Growve, a St. Petersburg FL-based company which specializes in acquiring and operating natural supplement brands, raised $175M in funding.
Multiple bank syndication partners participated in this new credit facility, which follows a minority equity investment from Palm Beach Capital. The expanded banking syndicate is comprised of Truist Bank, Compeer Financial, Wells Fargo, N.A., First Horizon Bank, JP Morgan Chase & Co., Synovus Bank, South State Bank, N.A., Atlantic Capital Bank, N.A., HSBC Bank USA, N.A. and Seaside Bank and Trust, a division of United Community Bank.
The company intends to use the funds to expand acquisition of omnichannel natural wellness & body care brands and organig growth.
Led by CEO Brian Baer, Growve is a brand consolidator specializing in acquiring and operating world-class natural brands in the supplement, body care, food, household and pet categories. Its team of 400+ derives its value from aggregating brands and driving growth through in-house expertise in marketplace management, digital marketing, creative services, innovation, distribution, retail sales, manufacturing, supply chain management, regulatory and accounting. The company’s portfolio includes 20+ brands and hundreds of unique products.