Wells Enterprises to launch $100 million add-on term loan on April 23

By Sara Rosenberg

New York, April 16 – Wells Enterprises Inc. is scheduled to hold a lender call on April 23 to launch a $100 million add-on covenant-lite term loan due 2025, according to a market source.

BMO Capital Markets is the lead arranger on the deal.

Proceeds will be used to fund the acquisition of Fieldbrook Foods from Arbor Investments.

Currently, the company’s term loan is sized at about $173 million.

Wells Enterprises is a Le Mars, Iowa-based owned ice cream and frozen treat manufacturer. Fieldbrook Foods is a Dunkirk, N.Y.-based ice cream producer.

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