Wellness Pet Company has completed a $100 million refinancing deal aimed at supporting its strategic initiatives and long-term growth. The financing package extends the maturity of the company’s existing loans and asset-based lending (ABL) facility to 2029.
The refinancing, finalized with significant support from Wellness Pet’s existing lenders, included full backing from ABL lenders, nearly 80% support from first lien term loan lenders, and more than 90% support from second lien lenders. Remaining term loan lenders are invited to participate in the transaction.
“We greatly appreciate the robust support of our financing partners, which underscores their confidence in our business model and growth plans,” said Reed Howlett, CEO of Wellness Pet. “With new capital and reduced debt levels, we are well-positioned to invest in innovative solutions that meet the evolving needs of our customers and pet parents.”
The company stated that the transaction enhances its liquidity and financial flexibility, positioning it to continue advancing initiatives focused on pet nutrition and customer needs.
According to Petfood Industry's Top Pet Food Companies, Wellness Pet Company is a global supplier of premium pet food, treats and supplements. Headquarterd in Tewksbury, Massachusetts, U.S., the company has three facilites in Indiana, U.S., Minnesota, U.S., and the Netherlands.
