AFC Gamma today announced that it has provided a senior secured credit facility to Grön Holdings, one of North America’s largest producers of adult-use cannabis-infused edibles. Grön intends to use the proceeds from the new credit facility to expand its business into new states.
"With the additional capital, we look forward to continuing to execute on our business plan and are specifically excited about our expansion to the East Coast," said Grön CEO Christine Apple.
Grön Edibles was founded by Apple in 2015 in Oregon following her curiosities about gummy and chocolate with the desire to fill a market need in high-quality cannabis-infused edibles. Women-founded and led, Grön has since expanded into multiple product lines and is available in select states nationally.
AFC Gamma will hold the entire credit facility, which consists of a first-lien term loan secured by all assets of Grön. AFC Agent LLC served as agent for this transaction. SSC Advisors acted as Financial Advisor to Grön Holdings with respect to this transaction.
