Simply Good Foods plans new debt financing for Only What You Need buy

By Sara Rosenberg

New York, April 30 – Simply Good Foods Co. has received a commitment for debt financing to help fund its acquisition of Only What You Need from Purchase Capital LLC, according to a company presentation.

Barclays and Deutsche Bank provided the debt commitment.

The company said in the presentation that it will leverage its existing term loan debt facility for the transaction.

Projected net leverage at closing is expected to be about 1.5x or less.

Other funds for the $280 million acquisition will come from $50 million of balance sheet cash.

Closing is expected by the end of fiscal year 2024, subject to customary conditions and receipt of regulatory clearance.

Simply Good Foods is a Denver-based developer, marketer and seller of branded nutritional foods and snacking products. Only What You Need is a plant-based ready-to-drink protein shake brand.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.