CID Capital has recapitalized Fit & Fresh, a maker of products that allow people to take healthy and fresh foods and drink with them while on the go. No financial terms were disclosed. Academy Bank provided the senior financing for the transaction while Medallion Capital provided the subordinated debt financing.
CID Capital is proud to announce that it has partnered with Fit & Fresh, Inc. Formerly Medport LLC, Fit & Fresh is the leading designer of fashionable and functional products that allow people to take healthy and fresh foods and drinks with them while on the go to work, school, or social events. The Company is located in Providence, RI and brands include Fit & Fresh, Jaxx, Fit & Healthy, Medport, Fresh Starts and Gatherings.
CID worked closely with Fit & Fresh’s owners and management team to achieve their goals. Larry Wesson, the President of Fit & Fresh, commented, “Our team has done a tremendous job of designing and bringing to market innovative new products that consumers love to use when taking food with them on-the-go. This transaction will allow us to continue accelerating the growth we’ve been experiencing since we introduced the Fit & Fresh brand in 2006. We are looking forward to working with CID as we capitalize on the opportunities to grow our business.”
Scot Swenberg, Managing Director at CID Capital, added “Fit & Fresh exemplifies the characteristics CID looks for in a partner. The Company has a leading brand, a strong reputation for high quality products and service, and the vision to build long term value. We are very excited about our partnership with the Fit & Fresh team.”
As part of the recapitalization, Academy Bank provided the senior financing and Medallion Capital provided the subordinated debt financing.
For more information about CID or Fit & Fresh, please contact Adam Bolerjack.
About CID Capital
CID Capital is a private equity group that makes control investments in high-quality, lower-middle market companies that have shown a consistent track record of success. For companies that have reached a performance level that finds them transitioning beyond being an entrepreneurial business, our Indianapolis, IN-based firm can deliver the planning, experience, resources and capital to overcome critical constraints and build long-term value. With our disciplined approach, we work on minimizing the uncontrollable and turning previously chaotic scenarios into predictable business models.
CID is actively looking for platform and add-on opportunities. Please contact Adam Bolerjack with potential investment ideas or questions regarding CID and its portfolio.