Franchise Group, Inc. Broadcasts the Closing of Its Upsized $300 Million Add-On to Its Current Time period Mortgage

DELAWARE, Ohio, Feb. 02, 2023 (GLOBE NEWSWIRE) — Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group,” “FRG” or the “Firm”) immediately introduced that’s has upsized and accomplished its beforehand introduced non-fungible add-on to its present first lien time period mortgage of $300 million. Internet proceeds from the transaction are anticipated for use to pay down present debt beneath the Firm’s ABL credit score facility.

JPMorgan Chase Financial institution, N.A. acted as lead left arranger of the financing. UBS Funding Financial institution and Jefferies Finance LLC acted as joint lead arrangers within the financing.

About Franchise Group, Inc.
Franchise Group is an proprietor and operator of franchised and franchisable companies that regularly seems to develop its portfolio of manufacturers whereas using its working and capital allocation philosophy to generate robust money circulate for its shareholders. Franchise Group’s enterprise strains embrace Pet Provides Plus, Wag N’ Wash, American Freight, The Vitamin Shoppe, Badcock House Furnishings & Extra, Buddy’s House Furnishings and Sylvan Studying. On a mixed foundation, Franchise Group presently operates over 3,000 areas predominantly positioned within the U.S. which are both Firm-run or operated pursuant to franchising and seller agreements.

Ahead-Wanting Statements
This press launch incorporates forward-looking statements inside the that means of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements embrace, with out limitation, projections, predictions, expectations, or beliefs about future occasions or outcomes and aren’t statements of historic reality. Such statements might embrace statements relating to the Firm’s outcomes of operation and monetary situation and statements relating to the anticipated use of proceeds in reference to the add-on to its present first lien time period mortgage. Such forward-looking statements are based mostly on numerous assumptions as of the time they’re made, and are inherently topic to recognized and unknown dangers, uncertainties and different components which will trigger precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Ahead-looking statements are sometimes accompanied by phrases that convey projected future occasions or outcomes comparable to “anticipate,” “consider,” “estimate,” “plan,” “challenge,” “anticipate,” “intend,” “will,” “might,” “view,” “alternative,” “potential,” or phrases of comparable that means or different statements regarding opinions or judgment of the Firm or its administration about future occasions. Though the Firm believes that its expectations with respect to forward-looking statements are based mostly upon cheap assumptions inside the bounds of its present information of its enterprise and operations, there might be no assurance that precise outcomes, efficiency, or achievements of the Firm is not going to differ materially from any projected future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Precise future outcomes, efficiency or achievements might differ materially from historic outcomes or these anticipated relying on quite a lot of components, a lot of that are past the management of the Firm. The Firm refers you to the “Danger Elements” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” sections of the Firm’s Kind 10-Okay for the fiscal yr ended December 25, 2021, and comparable sections of the Firm’s Quarterly Experiences on Kind 10-Q and different filings, which have been filed with the SEC and can be found on the SEC’s web site at www.sec.gov. The entire forward-looking statements made on this press launch are expressly certified by the cautionary statements contained or referred to herein. The precise outcomes or developments anticipated will not be realized or, even when considerably realized, they might not have the anticipated penalties to or results on the Firm or its enterprise or operations. Readers are cautioned to not depend on the forward-looking statements contained on this press launch. Ahead-looking statements converse solely as of the date they’re made and the Firm doesn’t undertake any obligation to replace, revise or make clear these forward-looking statements, whether or not because of new data, future occasions or in any other case.

Investor Relations Contact:
Andrew F. Kaminsky
EVP & Chief Administrative Officer
Franchise Group, Inc.
[email protected]
(914) 939-5161