Maranon Capital Provides One-Stop Financing for Kettle Cuisine
September 2011
Maranon Capital, L.P. announced today that it provided one-stop financing including a senior revolving credit facility and term loan as well as mezzanine debt to support a business partnership between Kettle Cuisine and Arlon Food and Agriculture Investment Program. Kettle Cuisine’s Founder and President, Jerry Shafir, will continue with the business and remains a meaningful investor in the company.
Based in Chelsea, Massachusetts Kettle Cuisine is at the forefront of a growing demand for exceptional tasting real food that satisfies everyday wellness lifestyles. By starting with the finest quality natural food ingredients and using classical artisan cooking techniques, Kettle Cuisine consistently delivers more than 50 varieties of top quality soups, stews, chilis, and chowders with no artificial ingredients.
“Kettle Cuisine has grown steadily as the quality of its products has resulted in pull-through demand,” commented Tom Gregory, Co-Founder and Managing Director of Maranon Capital. “The partnership with Arlon provides the company with additional operational resources and capital to continue expanding its distribution to restaurants, delis, cafés and supermarkets throughout the U.S.”
Maranon Capital’s investment team was led by Managing Director, Greg Long, and included Associates, Mike Vieth and Matt Graves. Katten Muchin Rosenman LLP provided legal counsel for Maranon.
About Maranon Capital
Maranon Capital, L.P. provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions. Maranon has the flexibility to structure a one-stop financing solution or to provide stand-alone senior or mezzanine debt. The firm does not take control equity positions, but will consider a minority equity role in conjunction with a financing relationship. Maranon is currently managing over $550 million of committed capital. The firm is headquartered in Chicago with additional offices in Birmingham, Michigan and South Bend, Indiana. For more information about Maranon Capital please visit www.maranoncapital.com.
About Arlon Food and Agriculture Investment Program
The Arlon food and agriculture investment program invests in middle market companies across various stages of the food and agriculture supply chain, including production, processing, distribution, food service and retail. Arlon seeks to achieve attractive long-term returns by combining its well-developed investment process in the food and agriculture sectors with the strategic insight of an experienced industry participant. Arlon believes that its long-term perspective, food sector expertise, and commitment to partnering with management teams, make it a strong partner to food businesses which are pursuing stable growth. For more information visit www.arlongroup.com.