NORWALK, Conn. — GE Capital Corporate Retail Finance announced it is administrative agent and sole lender on a $65 million asset-based credit facility for Navarro Discount Pharmacy. The financing will be used to refinance debt and for general corporate purposes.
“GE Capital understands retailing and has a great deal of experience financing drug stores,” Navarro Discount Pharmacy CEO Juan Ortiz said. “This allowed us to secure the right capital structure to help build our business.”
Founded in 1960, Miami, Florida-based Navarro Discount Pharmacy is the largest Hispanic-owned retail drug chain in the United States with 30 stores in south Florida. Catering to the Hispanic market, Navarro’s stores feature an array of consumer goods including fragrances, electronics, health and beauty care, food and household products.