Churchill Asset Management has provided a credit facility to support Bansk Group’s buyout of Arcadia Consumer Healthcare. No financial terms were disclosed. Churchill was the lead arranger and administrative agent on the financing. Arcadia is a provider of over-the-counter medicines and premium vitamins, minerals and supplements.
New York, NY, September 14, 2021 – Churchill Asset Management (“Churchill”) today announced that it served as Lead Arranger and Administrative Agent for a senior secured credit facility in support of the acquisition of Arcadia Consumer Healthcare (“Arcadia” or the “Company”) by Bansk Group. Churchill has been an incumbent lender to Arcadia since 2018 and has supported the Company’s growth through an initial 2018 investment and two incremental financings.
Arcadia Consumer Healthcare, formerly known as Kramer Laboratories, is a recognized leader in the consumer healthcare market for over-the-counter medicines and premium vitamins, minerals and supplements. For over 35 years, the company has been delivering innovative healthcare products to help consumers self-treat their everyday problems. The Company leverages a sophisticated omni-channel distribution network that includes domestic and international e-commerce sites and a highly diversified, blue-chip customer base of brick-and-mortar retailers. Today, Arcadia products are sold in more than 60,000 stores nationwide, including major drug, food and mass merchandiser outlets.
“Arcadia boasts a strong lineup of brands in the consumer healthcare space, and with each addition to its portfolio the Company has continued to grow, whether organically or via transformative acquisitions,” said Randy Schwimmer, Senior Managing Director and Co-Head of Senior Lending at Churchill. “Having been a supporter of Arcadia’s successful growth strategy for the past three years, we are excited to see the Company further differentiate its platform with the help of the expert team at Bansk Group.”
This financing of Arcadia marks the first transaction which Churchill’s senior lending team has completed in support of Bansk Group, a New York-based private investment firm focused on investing in and building distinctive consumer brands.
“After working with Churchill for the first time, we are very impressed by the team’s capability to provide both an optimal financing solution and certainty of execution,” said Chris Kelly, Partner at Bansk Group. “We are pleased to be working with a lender who already has deep knowledge of Arcadia’s business model and history, and we look forward to partnering with Churchill throughout the life of this transaction.”
About Churchill Asset Management LLC
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $31 billion of committed capital, we provide first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, best in class execution and investment are driven by more than 100 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
About Bansk Group
Founded in 2019, Bansk Group is a New York-based private equity firm focused on consumer buyouts and growth investing. With over $1.5 billion in assets under management, the firm partners with distinct brands across four primary consumer categories: household products, beauty & personal care, consumer health and food & beverage.
Bansk’s tenured group of investors and operators have invested more than $30 billion of equity capital across more than 40 transactions with some of the most innovative and well-known consumer companies in the world.