BOCA RATON, June 1, 2016 - Veritas Financial Partners has provided working capital and growth financing to Archie Comic Publications, Inc. The financing supports the company’s current publishing operations as well as its expansion and diversification into various media segments.
Archie Comics is the leading mass market comic book publisher in the world and the home to some of the most iconic and popular humor, action-adventure and superhero characters in entertainment, including Archie, Jughead, Betty and Veronica, Josie and the Pussycats, Sabrina the Teenage Witch, and the Dark Circle Comics superhero characters. Archie Comics have sold over 2 billion issues worldwide, and its characters have been featured prominently in animation, television, film and music.
Mark Seigel, President of Veritas said, “We are thrilled to provide financing to Archie Comics – an American icon that is one of the most successful and longest running brands in the history of the comic book industry. We are especially pleased that we were able to complete the transaction swiftly and to an outstanding end result for the company.”
Tony Liobis, Vice Chairman and Chief Credit Officer added, “From our first meeting with management, we knew Archie Comics was a great company with an amazing growth potential. The Veritas transaction provides Archie with a more flexible financing arrangement and better positions the company to capitalize on the market opportunities available to it. We are excited to be partnering with a company so well recognized in the market and look forward to having Archie and his friends being part of future generations of readers and viewers.”
Jon Goldwater, Chief Executive Officer of Archie Comics said, “The Veritas team did an exceptional job of understanding our business and the strength of our brands to generate future business. Veritas’s financing provides us with a solid capital base as we propel ourselves into another 75 years of success”.