CVC Credit provides financing to CapVest-backed Novus Foods through its Capital Solutions strategy

CVC Credit is pleased to announce that it has provided a tailored financing solution to Novus Foods (“Novus” or “the Company”), a leading US refrigerated foods platform backed by CapVest, to facilitate its acquisition of food producer noosa and support continued future growth. 

Founded in 1988, Novus Foods is a US refrigerated foods platform focused on products sold in retailers’ stores. It produces refrigerated dips, desserts, salsa and yogurt across a portfolio of market-leading brands and strategic private label products. Novus Foods has national distribution capabilities and sells to all major US food retailers. The company has over 1,200 employees and operates six manufacturing facilities across the US. 

This investment has been made through CVC Credit’s Capital Solutions strategy, which provides bespoke financing solutions to established European and US medium and large companies. It focuses on providing good quality companies with primary junior capital or structured equity to support M&A, refinancings and/or liquidity events.

Miguel Toney, Partner in CVC’s Private Credit team, focused on Capital Solutions, said: “We are delighted to close this latest transaction for the Capital Solutions strategy, which is gathering momentum in an increasingly complex global M&A environment. Novus’ leading position in the US foods market is supported by positive consumer trends and a well-diversified business model across both branded and private label products. The strength of the CVC global network, as well as a strong existing relationship with CapVest, meant we were comfortable providing a comprehensive financing solution to the Company to finance its recent acquisition and drive future growth.”