First Citizens Bank Provides $10 Million to FitLife Brands, Inc. for Acquisition of MusclePharm
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The acquisition allows FitLife to grow the MusclePharm brand and enhance its profitability through a focus on online sales and expanded wholesale distribution.
"We appreciate working with the knowledgeable team at First Citizens on financing to support our acquisition of MusclePharm," said Dayton Judd, Chairman and CEO of FitLife. "MusclePharm is an iconic brand with strong domestic and international appeal and a complementary product offering, and we expect this acquisition to drive continued growth for our company."
This financing expands First Citizens' relationship with FitLife after First Citizens Middle Market Banking provided a
"We value our relationship with FitLife and are pleased to work together again on financing for this strategic acquisition," said Travis Flodine, a managing director at First Citizens. "We look forward to supporting FitLife's future endeavors as they continue to advance in the sports nutrition and wellness industry."
First Citizens Middle Market Banking delivers a range of financial solutions to midsize clients through a relationship banking model. The business offers deposit solutions, loans, treasury services and other banking products to manufacturers, distributors and a wide variety of service industries.
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
MEDIA RELATIONS:
Lexa Tutela Losey
212-461-5305
Lexa.tutela@firstcitizens.com
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SOURCE First Citizens Bank
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