Franchise Group, Inc. Announces the Closing of Its Upsized $300 Million Add-On to Its Existing Term Loan

Franchise Group, Inc.

Franchise Team, Inc.

DELAWARE, Ohio, Feb. 02, 2023 (Globe NEWSWIRE) — Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group,” “FRG” or the “Company”) these days announced that is has upsized and completed its previously announced non-fungible incorporate-on to its current very first lien term loan of $300 million. Internet proceeds from the transaction are expected to be utilised to shell out down present personal debt under the Company’s ABL credit facility.

JPMorgan Chase Bank, N.A. acted as guide left arranger of the funding. UBS Expense Bank and Jefferies Finance LLC acted as joint direct arrangers in the funding.

About Franchise Team, Inc.
Franchise Group is an owner and operator of franchised and franchisable enterprises that frequently seems to increase its portfolio of brands while employing its operating and funds allocation philosophy to deliver powerful money circulation for its shareholders. Franchise Group’s organization lines include Pet Supplies Furthermore, Wag N’ Clean, American Freight, The Vitamin Shoppe, Badcock House Home furnishings & Much more, Buddy’s Home Furnishings and Sylvan Understanding. On a put together foundation, Franchise Team at this time operates around 3,000 areas predominantly positioned in the U.S. that are either Organization-operate or operated pursuant to franchising and seller agreements.

Ahead-On the lookout Statements
This press release has forward-hunting statements within just the which means of the Personal Securities Litigation Reform Act of 1995. Forward-seeking statements consist of, without the need of limitation, projections, predictions, expectations, or beliefs about foreseeable future situations or outcomes and are not statements of historic point. These kinds of statements could contain statements regarding the Company’s effects of operation and fiscal situation and statements regarding the anticipated use of proceeds in relationship with the include-on to its existing initially lien phrase mortgage. These kinds of forward-hunting statements are dependent on a variety of assumptions as of the time they are manufactured, and are inherently subject to recognized and unidentified challenges, uncertainties and other aspects that could cause precise final results, overall performance or achievements to be materially distinct from any long run final results, performance or achievements expressed or implied by this sort of ahead-seeking statements. Ahead-looking statements are usually accompanied by words and phrases that convey projected long run occasions or results these kinds of as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “potential,” or phrases of identical indicating or other statements relating to opinions or judgment of the Firm or its management about future events. Although the Enterprise thinks that its expectations with regard to forward-hunting statements are based mostly on affordable assumptions within the bounds of its current knowledge of its organization and functions, there can be no assurance that actual effects, efficiency, or achievements of the Business will not vary materially from any projected upcoming results, effectiveness or achievements expressed or implied by this kind of forward-on the lookout statements. Precise foreseeable future benefits, performance or achievements might differ materially from historical benefits or people expected dependent on a wide variety of things, several of which are past the control of the Organization. The Firm refers you to the “Risk Factors” and “Management’s Dialogue and Examination of Monetary Ailment and Effects of Operations” sections of the Company’s Variety 10-K for the fiscal yr finished December 25, 2021, and equivalent sections of the Company’s Quarterly Reports on Form 10-Q and other filings, which have been submitted with the SEC and are out there on the SEC’s web page at All of the forward-on the lookout statements designed in this push release are expressly experienced by the cautionary statements contained or referred to herein. The actual final results or developments anticipated may possibly not be understood or, even if substantially realized, they might not have the anticipated effects to or results on the Corporation or its enterprise or operations. Viewers are cautioned not to rely on the forward-wanting statements contained in this push launch. Ahead-searching statements communicate only as of the date they are produced and the Corporation does not undertake any obligation to update, revise or make clear these forward-seeking statements, whether as a result of new data, foreseeable future events or if not.

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