Skinny Nutritional receives infusion of capital
July 2, 2012
by Eric Schroeder
CONSHOHOCKEN, PA. — Skinny Nutritional Corp., maker of Skinny Water, has reached agreement with Trim Capital L.L.C. involving the issuance of $9 million of preferred and common stock and a $6 million senior secured credit facility. At the initial closing, Skinny Nutritional sold a $1 million senior secured bridge note to Trim Capital.
“The investment Trim Capital is making in Skinny Water will give the company the capital to execute its growth plan,” said Michael Salaman, chief executive officer of Skinny Nutritional. “Having access to this capital will allow us to accelerate our marketing and brand initiatives, add new product lines under the Skinny Nutritional Corp. umbrella of Skinny trademarks and build inventory levels to satisfy the demand for our products.”
Marc Cummins, managing partner for Trim Capital, added, “Skinny Water is exactly the type of investment we look for — one with the perfect combination of a solid consumer proposition, a healthy distribution system and a robust product pipeline that will continue to deliver great-tasting and healthy products to the marketplace.”
Skinny Nutritional makes Skinny Water, a zero-calorie, zero-sugar, zero-sodium and zero-preservative enhanced water with key electrolytes, antioxidants and vitamins. Skinny Water comes in six flavors: acai grape blueberry, raspberry pomegranate, orange cranberry tangerine, lemonade passionfruit, pink citrus and goji black cherry.