Cherrydale Farms (“Cherrydale” or the “Company”), based in Allentown, PA, maintains two distinct operating businesses. The Fundraising Division is one of the nation’s largest and most recognized suppliers of product fundraising programs to non-profit organizations. The Commercial Division manufactures and distributes branded chocolate and other edible items to retailers throughout the country.
The Company was experiencing operating challenges related to the rapid growth of the business, and as a result, retained SSG to advise on the sale of both businesses and assist in the placement of a seasonal working capital facility for the Fundraising Division to support the business post closing.
On a parallel basis, SSG facilitated the sale of both businesses to Rosen Capital while also securing a $15 million senior credit facility for the Fundraising Division which was funded concurrent with the closing. As a result of the sale, shareholders were able to repatriate certain monies and retain a stub piece of the equity.