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September 2017

Penfund Leads Second Lien Refinancing for Give & Go Prepared Foods

TORONTO, Ontario (September 25, 2017) – Penfund, an independent provider of junior capital to middle market companies in the United States and Canada, announced today an incremental investment in Give & Go Prepared Foods Corp. (“Give & Go” or the “Company”) by Penfund Capital Fund V (the “Fund”). The Fund provided an additional US$15 million of second lien debt as part of Give & Go’s recent first and second lien refinancing transaction.

Penfund acted as lead investor and agent for the upsized second lien facility. Adam Breslin, partner at Penfund, commented, “We are pleased to support Thomas H. Lee Partners in their recapitalization of Give & Go. Give & Go has performed well since being acquired by THL and we are excited about the Company’s prospects.”

Give & Go is a leading provider of branded and private label sweet baked goods to retailers and customers across North America. The Company’s acquisition of Create-a-Treat in July 2016 and Uncle Wally’s Bake Shoppe (“Uncle Wally’s”) in February 2017 have expanded the product portfolio to include edible craft products and mini and snack-size muffins.

About Give & Go Prepared Foods Corp.

Founded in 1989, Give & Go is a market leader in the North American bakery industry delivering value-added, branded and private label programs across a range of consumer segments, including Mini Treats, Cupcakes, and Better For You Snacking. Give & Go’s well-known offerings include its bestselling two-bite® and Kimberley’s Bakeshoppe® brands, well-positioned Mason St. Bakehouse™, and The Worthy Crumb Pastry Co.™ brands. The Company’s Create-a-Treat and Uncle Wally’s segments focus on edible craft products and mini and snack-size muffins, respectively. Give & Go maintains best-in-class, proprietary in-house manufacturing and product innovation capabilities through its production facilities located in Toronto, Ontario and Shirley, New York.


About Thomas H. Lee Partners, L.P.

Thomas H. Lee Partners, L.P. (“THL”) is one of the world’s oldest and most experienced private equity firms. Founded in 1974, THL has raised over $22 billion of equity capital and invested in more than 140 portfolio companies with an aggregate value of over $150 billion. THL invests in growth oriented businesses, headquartered principally in North America, across four sectors: Business & Financial Services, Consumer & Retail, Healthcare, and Media, Information Services & Technology. THL partners with portfolio company management to identify and implement operational and strategic improvements to accelerate sustainable revenue and profit growth.


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About Penfund

Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is currently investing its most recently established fund, Penfund Capital Fund VII. Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high-net-worth individuals located in Canada, the United States, the Middle East, and Europe. Penfund has invested more than $3 billion in over 225 companies since its establishment. Assets under management are approximately $2.8 billion.

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