Farley's & Sathers gets new $202 million credit facility

By Sara Rosenberg

New York, April 24 - Farley's & Sathers Candy Co., a Catterton Partners portfolio company, closed on a new $202 million senior secured credit facility, according to a company news release.

GE Antares Capital acted as lead arranger and bookrunner on the deal.

The facility consists of a $35 million first-lien revolving credit facility, a $127 million first-lien term loan and a $40 million second-lien term loan.

Proceeds were used to help finance the recent acquisition of the Trolli brand of candies from Wm Wrigley Jr. Co., to pay a dividend and to refinance certain debt.

"The credit facility allowed us to lower our financing costs while providing the company significant flexibility over the next several years," said Craig Sakin, a managing partner at Catterton, in the release. "The GE Antares team did exactly what they said they would do - they provided us a very attractive credit facility in terms of both cost and structure while executing within a tight time frame."

Farley & Sather's is a Round Lake, Minn.-based branded candy manufacturer.

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