SnugZ USA nets financing backing Sweda acquisition

SnugZ USA Inc. received debt financing backing the acquisition of Sweda Co. LLC, the companies said. Zions Bancorporation and East West Bank provided the loans.

Sweda is a supplier of promotional and gifting products.

"Based on 2020 promotional product sales, the combination of SnugZ and Sweda will create one of the top-10 largest suppliers and would provide customers with one of the most diverse product offerings in the industry," the companies said in a Jan. 12 statement.

SnugZ has been a portfolio company of Tower Arch Capital since 2019.