I Love Produce Secures $105M Debt Refinancing to Fuel Garlic Acquisitions

Event summary

  • I Love Produce closed a $105M debt refinancing to support acquisitions of Canada Garlic and Garlic King, completed in December 2025.
  • The refinancing was led by Brightwood Capital Advisors with participation from OFS Capital Management.
  • I Love Produce is backed by Promise Holdings, NewSpring Capital, and SharpVue Capital.
  • The capital structure is designed to support future acquisitions in the value-added produce sector.

The big picture

I Love Produce's $105M debt refinancing underscores the strategic importance of scale in the value-added produce sector. The deal reflects a broader trend of consolidation in the food processing industry, where companies are leveraging debt financing to fuel growth through acquisitions. The involvement of Brightwood Capital Advisors and OFS Capital Management highlights the appetite for specialized financing in niche agricultural sectors.

What we're watching

M&A Strategy
How I Love Produce will deploy its new capital structure to expand its geographic footprint and product offerings through additional acquisitions.
Capital Structure
Whether the $105M refinancing will provide sufficient flexibility for I Love Produce to compete in the value-added produce sector.
Execution Risk
The pace at which I Love Produce can integrate its recent acquisitions and achieve operational synergies.

Related topics

Acquisition