NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a revolving credit facility to The Honest Kitchen, Inc. (“Honest”).  Established in 2002, Honest is a pet food manufacturer located in San Diego, CA that specializes in making human-grade dog and cat food, treats and supplements from natural, dehydrated whole foods, using certified organic ingredients. The company is privately-held and owned partly by Alliance Consumer Growth (“ACG”) and White Roads Investments (“WRI”), private equity investment firms focused on emerging, high-growth consumer companies. The credit facility will be used to support Honest’s working capital needs.

“We are excited to be partnering with NewStar to support our continued growth.  Throughout the process, the NewStar team took the time to understand the fundamentals of our business and structure a product that enables us to fulfill our mission to help as many pets as possible get on the road to good health, through good food,” said Michael Greenwell, CFO/COO, The Honest Kitchen, Inc.

“We are pleased to have the opportunity to work with companies like Honest Kitchen and help them continue to expand their business,” said Milton Iskra, National Marketing Manager. 

The transaction was originated by Lisa Adams, a Senior Vice President located in NewStar’s San Francisco office.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle-market companies with credit requirements between $5 million and $35 million.  Deal structures are flexible and tailored to meet each client’s unique needs.  Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalizations and refinancings, as well as, to support internal growth strategies.