Gordon Brothers $175M Facility for Phillips Pet

Gordon Brothers provided $175 million in strategic financing to support Phillips Pet Food’s acquisition of Central Pet’s pet distribution arm. The financing is structured as a unitranche asset-based lending revolver with a RILO tranche embedded to enhance advance rates, flexibility, and capital durability.

Gordon Brothers will also serve as integration agent, supporting asset intelligent capital, real estate optimization, and inventory rationalization. The firm will act as exclusive real estate advisor to the combined company, conducting a footprint assessment to identify redundant capacity, optimize geographic coverage, and manage disposition and lease restructuring. Phillips is owned by Axar Capital Management, and Phillips and Central Pet are expected to form the largest pet distribution company in the United States.