Chicago, IL – November 1, 2022 – SG Stonegate Capital, a division of SG Credit Partners (“SGCP”), a family-office backed lender providing capital to lower middle market businesses and entrepreneurs, is pleased to announce the closing of a senior debt investment in Smith Teamaker, a leading U.S. brand of specialty and artisan tea products.
After successfully founding and exiting two previous tea brands, the late iconic entrepreneur Steven Smith set out to deliver the finest small-batch tea in the market, and thus his namesake was founded in 2009 in his hometown of Portland, OR. The business has since become a nationally recognized brand known for sourcing the highest-quality ingredients from sustainable farms all over the world. With a mission to enrich lives through exceptional tea experiences, the Company strives to make a positive impact by actively supporting sustainable and progressive initiatives especially in low-income regions where growers are often based.
“Smith Teamaker has really set the standard for high-quality tea and has consistently shown that their craftsmanship and creativity can produce an uncompromising product,” said Dan McCallum, Director at SG Stonegate Capital. “Their relentless pursuit of the perfect cup of tea is an ideal fit for our investment philosophy to support preeminent growing consumer brands.”
“We greatly appreciate how quickly SG Stonegate understood our business and working capital financing needs” said John Wells, CFO of Smith Teamaker. “They provided a structure that helps fund our rapid growth while providing us with needed flexibility. From the moment we met the SG Stonegate team, we have found them to be responsive and supportive business partners.”
SG Stonegate has significant experience investing in the emerging food and beverage space. Current and past investments include Clio Snacks, Country Archer Provisions, Purely Elizabeth, Simple Mills, Smith Teamaker, Van Leeuwen Ice Cream, and Zevia.
About Smith Teamaker
Smith Teamaker is a leading U.S. brand of specialty and artisan tea products. Based in Portland, OR, Smith Teamaker’s products can be found at www.Smithtea.com, Smith Tasting Rooms or in quality hotels, restaurants, and stores nationwide. Smith Teamaker is a mission-driven organization on a quest to enrich lives through exceptional tea experiences. For more information and to browse Smith Teamaker’s products, please visit www.smithtea.com.
About SG Stonegate Capital / SG Credit Partners
SG Stonegate Capital, a division of SG Credit Partners (“SGCP”), is a family-office backed lender providing capital to lower middle market businesses and entrepreneurs requiring tailored credit solutions. SG Stonegate and SGCP provide structured credit solutions ranging from $2 Million – $20 Million primarily via three credit verticals: Software & Technology, Consumer Products, and Lower Middle Market. The firm has collectively deployed over $500MM+ of capital to lower middle market businesses across a variety of industries. For more information, please visit www.sgcreditpartners.com.