November 13, 2020

Phillips Pet Food & Supplies Announces New Capital Investment

Phillips Pet Food & Supplies, a national leader in pet food and supplies distribution, today announced it has completed a comprehensive refinancing, including more than $20 million of new investment capital from a group of existing investors.

Phillips also established an expanded revolving credit facility led by Wells Fargo Bank, NA. This facility provides a significant liquidity increase from the company’s previous revolving credit facility.

Both transactions closed on Friday, Nov. 13, 2020 and provide Phillips with an efficient financial structure to fund future growth with retail and brand partners.

In connection with the refinancing, the company also welcomed Blaine Phillips to the investor group and appointed him as Chairman of the Company.

“These transactions provide substantial financial capacity and materially reduce our debt, allowing us to invest aggressively in our future,” said Todd Shelton, President and Chief Executive Officer of Phillips Pet Food & Supplies. “We are excited to have Blaine’s vision, passion and pet specialty experience helping guide our work to accelerate growth for retailers, brand partners and associates.”

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