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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