CIT Northbridge Provides $65 Million to Family Care Company Hello Bello™
CIT Northbridge Credit has arranged a $65 million credit facility for Hello Bello, a company focused on affordable family care products. This financing aims to support Hello Bello's growth in market share, as indicated by co-founder Jennifer Pullen. Established in 2019 by Kristen Bell and Dax Shepard, Hello Bello offers eco-friendly, premium-quality essentials available online and at major retailers. CIT's support highlights their commitment to assisting middle-market companies with tailored financial solutions.
- CIT Northbridge provides substantial financing of $65 million to support Hello Bello's growth.
- Hello Bello aims to expand market share by offering affordable, high-quality family care products.
- None.
NEW YORK, April 28, 2022 /PRNewswire/ -- CIT Northbridge Credit, as advised by CIT Asset Management LLC, has served as sole lead arranger on a
"This financing will provide additional support as we continue to grow our market share by delivering affordable, high-quality essentials to more families," said Jennifer Pullen, co-founder of Hello Bello. "We appreciate CIT Northbridge's professionalism and expertise throughout the financing process."
Launched in 2019 by co-founders Kristen Bell and Dax Shepard, Hello Bello is a parenting platform providing premium and affordable products designed to eliminate the choice many parents have to make between what's best for their family or best for their budget. Hello Bello's products are all carefully crafted with children, parents and the planet in mind, and available at hellobello.com with bundling and subscription options, as well as at retailers including Walmart and Target nationwide.
"Hello Bello's cost-effective pricing helps bring premium, environmentally friendly products into the homes of everyday consumers," said Neal Legan, who leads CIT Northbridge. "We're pleased to provide this financing to support Hello Bello as they continue to deliver on their mission."
CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by CIT Asset Management, it provides revolving and term loan commitments from
About CIT
CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than
About Hello Bello:
Hello Bello™, launched in February 2019, makes premium and affordable family products designed to eliminate the choice many parents have to make – deciding between what's best for their kids and what's best for their budget. From extremely adorable and soft diapers made with sustainably harvested fluff pulp and premium body care with organic botanical extract blends to mineral sunscreens, organic multivitamins, refillable cleaners, and more, Hello Bello's products give parents comfort about what they're putting on their baby and bringing into their home. Hello Bello was co-founded by Kristen Bell, Dax Shepard, Sean Kane, Jay McGraw and Jennifer Pullen. For more information, please visit hellobello.com or follow @hellobello on Facebook, Instagram and Twitter and @myhellobello on Pinterest.
MEDIA RELATIONS:
Lexa Tutela
212-461-5305
lexa.tutela@firstcitizens.com
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SOURCE CIT, a division of First Citizens Bank
FAQ
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