Capitala Group Announces $33.0 Million Investment in Chicken Soup for the Soul, LLC
CHARLOTTE, N.C., Jan. 15, 2019 (GLOBE NEWSWIRE) -- Capitala Group (“Capitala” or the “Company”) announced today that it recently invested in senior secured debt totaling $33.0 million in Chicken Soup for the Soul, LLC (“Chicken Soup for the Soul”), a multi-platform media and consumer products company focused on producing inspirational stories and content.
Based out of Cos Cob, CT, Chicken Soup for the Soul, one of the world’s favorite and most recognized storytellers, publishes the famous Chicken Soup for the Soul book series. Chicken Soup for the Soul has sold well over 100 million books to date in the U.S. and Canada alone, with more than 250 titles and translations into more than 40 languages. Today, 23 years after it first began sharing happiness, inspiration and hope through its books, it has also evolved beyond the bookstore with super premium pet food, diverse video offerings, podcasts, positive journalism from aplus.com, and licensed products, all revolving around true stories, as it continues “changing the world one story at a time®.”
Capitala’s investment closed in the fourth quarter of 2018.
About Capitala Group
Capitala Group is a $2.7 billion asset management firm that provides capital to lower middle market businesses throughout North America. Capitala’s lower middle market credit strategy focuses on investing in debt securities with minority equity co-investments with less than $250 million in enterprise value through its permanent capital vehicles, Capitala Finance Corp. (Nasdaq:CPTA) and Capitala Specialty Lending Corp. (CSLC). Capitala’s growth fund equity strategy targets control and minority equity investments, typically coupled with credit investments, in lower middle market companies with less than $50 million in enterprise value through both SBIC (CapitalSouth SBIC Fund IV, L.P.) and non-SBIC closed-end funds. Capitala Group has invested in over 150 companies since its inception in 1998 and seeks to partner with strong management teams to create value and achieve optimal outcomes for its investors. For more information, visit our website at www.CapitalaGroup.com.
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SOURCE: Capitala Finance Corp.