DALLAS--(BUSINESS WIRE)--An affiliate of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced that it has provided a debt investment in Promise Confections (the “Company”) through a second lien credit facility. Promise Confections is a portfolio company of Promise Holdings, LLC, a Chicago-based private investment firm.
Promise Confections is a private label, branded manufacturer, and co-manufacturer of confections and gourmet snacks, including chocolate covered nuts, truffles, candy bars, mints, and other innovative confectionery snacks. The Company’s brands include proprietary Girl Scouts licensed products, Salted Nut Roll, Big Hunk, Rocky Road, Abba-Zaba, Dilettante Chocolates and Myntz! Breathmints.
Sam Loughlin, Chief Executive Officer of Paceline, said “We are excited to support and strengthen Promise Confections’ ongoing expansion and innovation initiatives. Promise Holdings has a robust pipeline of opportunities in place, and we look forward to working closely with them to leverage our significant experience to scale the business and execute its growth plan within the confectionary and snack industry.”
Leigh Sansone, Chief Investment Officer of Paceline, added “This transaction reflects Paceline’s ability to provide flexible capital solutions and to partner with dedicated sponsors in markets in which they operate. We are excited to partner with Promise Confections and help build upon its complementary portfolio of brands and robust operating capabilities.”
“This new credit facility is pivotal for our operational expansion and product innovation,” said Michael McGee, CEO of Promise Confections. “We are committed to leveraging this opportunity to enhance our manufacturing capabilities and continue delivering high-quality confections to our valued customers.”
In a joint statement, Gordon Liao and Jackie Brooks of Promise Holdings, said “Our investment in Promise Confections is a reflection of our belief in the company's potential and the outstanding leadership of its team. We are confident that this partnership with Paceline will propel the company to new heights and solidify its position as a leader in the confectionery industry.”
Promise Holdings first acquired Annabelle’s Candy Co. in December 2021 and since then has completed three add-on acquisitions of Edward Marc Brands, Pearson’s Candy Co., and Seattle Gourmet Foods.
About Paceline Equity Partners
Paceline is a Dallas-based private equity manager focused on value-oriented, opportunistic, and special situations investments across corporate credit, private equity, and real assets. Paceline’s senior leadership team has worked together for over 15 years and manages approximately $1.5 billion in equity commitments on behalf of a global investor base. Since inception in 2018, Paceline has deployed over $1.9 billion in total transaction value and built a diversified portfolio of investments. To learn more, please visit www.pacelineequity.com.
About Promise Confections
At Promise Confections, we take immense pride in being an award-winning manufacturer of everyday chocolate and confectionery products. Our commitment is to continually challenge the norms of traditional confectionery, pushing boundaries to deliver exceptional experiences. Comprising Edward Marc Brands, Seattle Gourmet Foods, Pearson’s Candy Co., and Annabelle Candy Co., we boast a diverse range of capabilities including panning, enrobing, extruding, clusters, barks, brittles, gummies, and breath mint/sour candy tableting. With our extensive reach, servicing major retailers and offering private label and contract manufacturing services, we stand as emerging industry disruptors in confectionery. Check out our brands by visiting: www.promiseconfections.com.
