Assembled Brands closed a new credit facility for BelliWelli, the California-based maker of dietary fiber supplements and gummies. BelliWelli will use its new facility to fund production and inventory for new retail accounts, including CVS and Sam’s Club launching this fall, and to keep its marketplace channels supplied. Assembled Brands counted Amazon FBA inventory in the borrowing base alongside the brand’s other inventory and wholesale receivables, putting more capital to work. An accordion gives BelliWelli a clear path to a larger line as its retail footprint grows, without refinancing or starting over.
“BelliWelli turned online buzz into national distribution in just a few years, and that’s what our financing model is designed for,” Kunal Kohli, managing director at Assembled Brands, said. “A brand at this stage has real assets, but most banks aren’t ready to lend against them yet. We value those assets for what they’re worth today, and we moved quickly to build a flexible line that can scale with the company as it adds doors.”
Tyson Woeste, COO and co-founder of BelliWelli, added, “Assembled Brands looked past the viral moment and saw the business underneath it, from our retail receivables to the customers who keep coming back. Now we can say yes to new accounts without waiting on the last payment to land, and keep up with rising demand.”
Ben Wetzel, VP of Finance at BelliWelli, said, “What a finance team needs most from a lender is availability it can plan around. With no financial covenants, our decisions are driven by the business rather than a quarterly test, and the Assembled Brands team took us from term sheet to close in less than two months, with no surprises along the way.”
