CION Investment Corporation Acquires Substantially All Assets of David's Bridal
July 24, 2023
CION Investment Corporation closed a transaction to acquire substantially all assets of David's Bridal, investing $20 million and assuming certain bankruptcy-related liabilities. The go-forward business will operate up to 195 stores and preserve about 7,000 jobs, and Bank of America will provide a $50 million revolver and $20 million term loan to support the company's financial flexibility.
- Buyers
- CION Investment Corporation
- Targets
- David's Bridal, LLC
- Sellers
- David's Bridal, LLC (bankruptcy estate)
- Industry
- Retail
- Location
- Pennsylvania, United States
- Transaction Type
- Divestiture
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