Roark Preps $285 Million Loan for Auntie Anne’s Buy

It’s been more than a week since Roark Capital unveiled its takeover of Auntie Anne’s, the pretzel maker, and now we have some deal details.

FOCUS Brands, a Roark portfolio company, is launching a $285 million facility to back its buy of Auntie Anne’s. The deal consists of a $275 million term loan and a $10 million revolver, according to my compadres at Thomson Reuters Loan Pricing Corp.

Credit Suisse is leading the sale of the loan, LPC said.

Earlier this month, Roark announced it was buying the Lancaster, Pa.-based pretzel maker from Chairman and CEO Sam Beiler. Roark, an Atlanta PE firm, didn’t disclose financial terms.

Auntie Anne’s is known for its hand-rolled soft pretzels that can be found in train stations, airports, malls, some casinos and even in various Wal-Mart stores. Beiler is selling all of the company. The transaction is expected to close later this fall.

“Auntie Anne’s is not involved in the financial aspects between Roark Capital Group and their lending partners,” a company spokeswoman says.

Officials for Roark couldn’t be reached for comment.