Silver Point Leads $862 Million Financing for Sweet Oak's Acquisition of Whole Earth Brands

GREENWICH, Conn., Aug. 9, 2024 /PRNewswire/ -- Silver Point Finance, the direct lending business of Silver Point Capital, L.P., today announced that it has served as Administrative Agent, Collateral Agent, Joint Lead Arranger, and Joint Bookrunner in the $862 million Senior Secured financing supporting the acquisition of Whole Earth Brands, Inc. ("Whole Earth Brands") by Sweet Oak. The new Credit Facility led by Silver Point also has refinanced Sweet Oak's existing broadly syndicated loan in addition to funding the acquisition alongside Rhône and Mariposa Capital, LLC ("Mariposa").

Sweet Oak, which currently owns Royal Oak Enterprises, LLC ("Royal Oak"), completed its acquisition of Whole Earth Brands, a global food company enabling healthier lifestyles through premium plant-based sweeteners, flavor enhancers and other foods, including Whole Earth®, Pure Via®, Wholesome®, Swerve®, Canderel® and Equal®, on August 5, 2024. The combined company has been rebranded as Sweet Oak.

"The Silver Point Finance team is pleased to partner with Mariposa and Rhône in delivering a powerful financing solution to support the acquisition of Whole Earth Brands and the ongoing growth of the company as Sweet Oak," said Anthony DiNello, Head of Silver Point Finance. "This transaction is a testament to Silver Point's ability to scale into larger deals, driven by our growing balance sheet and heightened syndication capability. Alongside Mariposa's strong operating experience and Rhône's deep industry expertise, our team is excited to support Sweet Oak's continued success as a combined company."

Fortress Credit served as a Co-Lead Arranger and Co-Bookrunner. Cerberus Capital Management, Monarch Alternative Capital, and certain other co-investors also participated in the financing.

About Sweet Oak (f/k/a Ozark Holdings, LLC)
Sweet Oak Parent LLC, a Delaware limited liability company, owns Royal Oak and Whole Earth Brands and is indirectly held by a partnership between an affiliate of Mariposa and Rhône Capital VI L.P.

About Royal Oak
Royal Oak is a leading manufacturer and distributor of branded and private label fire building products, including charcoal, artificial firelogs, matches, lighter fluid and other consumable products.

About Whole Earth Brands
Whole Earth Brands is a global food company enabling healthier lifestyles and providing access to high quality plant-based sweeteners, flavor enhancers and other foods through a diverse portfolio of trusted brands and delicious products, including Whole Earth®, Pure Via®, Wholesome®, Swerve®, Canderel® and Equal®.

About Mariposa
Mariposa Capital, LLC ("Mariposa") is a Miami-based family office group founded by Sir Martin E Franklin in 2013. The firm focuses on long term value creation across various industries. Mariposa has longstanding relationships and credibility with investors and has a track record of creating long-term value through accretive M&A and operational expertise.

About Rhône
Rhône, established in 1996, is a global private equity firm with a focus on investments in businesses with a transatlantic presence. Rhône's investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has a history of successful corporate carve-out transactions and working with entrepreneur and family-led businesses, and operates across its London, New York, Madrid, and Milan offices. Rhône has invested in a diversified portfolio of companies including investments in the consumer, industrial, and business services sectors. For more information about Rhône, its investment professionals, and its current portfolio, please visit: www.rhonegroup.com.

About Silver Point Finance
For over 20 years, Silver Point Finance ("SPF") has been an active participant in the direct lending market, providing customized financing solutions to middle-market companies across a broad range of industries. SPF's transactions support acquisitions, refinancings, bridge loans, growth capital, balance sheet restructurings and leveraged recapitalizations. Along with its affiliates, SPF manages approximately $13 billion in investable capital and, in 2023, agented or arranged approximately $6.2 billion in credit facilities. Silver Point Finance is the direct lending business of Silver Point Capital, L.P., a leader in global credit investing that oversees the management of approximately $31 billion in investable capital. For more information, please visit silverpointfinance.com.

Contact:
Todd Fogarty / Sophia Swidey
Kekst CNC
[email protected] / [email protected]

SOURCE Silver Point Finance, LLC