SLR Credit Solutions (“SLR CS”) announced the closing of a $75 million senior credit facility comprised of a revolver and term loan for Stella & Chewy’s, the category leader in the raw pet food space. Stella & Chewy’s offers high-quality, raw and natural pet food made from premium, responsibly sourced ingredients. Its products are available at pet specialty retailers, grocers, and e-commerce sites.
Proceeds from the transaction were used to refinance existing debt and to provide enhanced liquidity for general operations and growth.
“Stella & Chewy’s is the leader in the growing premium natural pet food segment of the pet food industry. This new financing partnership provides us with the flexibility to continue to expand our business and reach new customers.” said Jay Thompson, CEO of Stella & Chewy’s. “The team at SLR CS developed an in depth understanding of our business and provided thoughtful solutions to get to a successful execution.”
“We are very pleased to provide this credit facility to Stella & Chewy’s and look forward to supporting the company’s next stage. We have been impressed with the company’s leadership team, as well as the investors and their vision for this business," said Jack Murphy, Director at SLR Credit Solutions.
About Stella & Chewy’s
Founded in 2003 and headquartered in Oak Creek Wisconsin, Stella & Chewy's strives to provide pets and pet parents the highest quality raw and natural pet food with an emphasis on nutrition, palatability, safety and convenience. The company's dog and cat products include frozen patties and morsels, freeze-dried dinners and meal mixers, baked kibble, stews, broths and treats. For more information about the company, products and the nearest retailer, visit www.stellaandchewys.com.
About SLR Credit Solutions
SLR Credit Solutions (f/k/a Crystal Financial), a portfolio company of SLR Capital Partners, is a leading provider of direct private credit focused on originating, underwriting, and managing both asset-based and cash flow financings from $20 - $200 million to middle-market companies. Since its inception in 2006, its team of experienced, responsive professionals have provided more than $4 billion in secured debt commitments across a wide range of industries. For more information, please visit www.slrcreditsolutions.com.
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Contacts
STELLA & CHEWY’S CONTACT
Rachel Brubeck
rbrubeck@stellaandchewys.com
SLR CREDIT SOLUTIONS CONTACT
Jack Murphy, Director
jmurphy@slrcreditsolutions.com
