Brightwood Capital leads growth financing for I Love Produce
What's the deal? Brightwood Capital AdvisorsDealroom has a profile for this one. Try Dealroom → served as lead lender on a new credit facility for I Love Produce, a processor and distributor of garlic, ginger, and shallots across North America.
OFS Capital Management also participated. The financing will fund growth, including future acquisitions.
Based in West Grove, Pennsylvania, I Love Produce is a portfolio company of Promise HoldingsDealroom has a profile for this one. Try Dealroom →, which acquired it in 2023.
Why now? The company is moving into a new phase of acquisition-driven growth, having recently bought Canada Garlic and Garlic King.
Since acquiring the business, Promise Holdings has worked with management to expand its capabilities and strengthen operations.
"We are pleased to partner with Brightwood as we enter the next phase of growth," said Gordon Liao, co-founder and managing partner at Promise Holdings.
What could go wrong? Acquisition-heavy strategies carry integration risk, and added debt raises pressure on a business built around a narrow set of products.
I Love Produce relies on a global network of sourcing partners, leaving it exposed to supply chain and trade disruptions.
The signal: Brightwood typically lends to companies in technology, healthcare, business services, transportation and logistics, and franchising, so leading a facility for a specialty produce distributor signals a willingness to back founder-built platforms wherever the buy-and-build thesis holds. With nearly 70 employees managing more than $6 billion in assets, the firm has the scale to fund I Love Produce's acquisition pipeline well beyond Canada Garlic and Garlic King.
Image credit: USDAgov
