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St. Pete’s Growve gets $175 million credit facility

May 27, 2021 - Growve, a St. Petersburg company in the e-commerce marketplace, announced a $175 million credit facility from a syndicate of 10 banks. Growve is a "brand consolidator" that specializes in buying and operating brands in the supplement, body care, food, household and pet categories. The company has a portfolio of more than 20 brands. The credit facility will sustain Growve's long-term growth capital structure , Brian Baer, CEO, said in a news release. The banks that make up the syndicate are: Truist, Compeer Financial, Wells Fargo, First Horizon, JPMorgan Chase, Synovus, South State, Atlantic Capital, HSBC, and Seaside. The bank syndication comes a few days Palm Beach Capital invested an undisclosed amount in Growve. Palm Beach Capital is a private equity firm with offices in West Palm Beach and Sarasota.

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