NEW YORK, N.Y. — Feb. 25, 2025 — First Citizens Bank announced today that its Sponsor Finance group provided financing to Proof of the Pudding, a Bruin Capital portfolio company.

Established in 1979 and headquartered in Atlanta, Georgia, Proof of the Pudding focuses on premium food and beverage services for upscale venues and events. The company serves major sports stadiums, convention centers, and large specialty events, with a significant footprint in the Southeast.

“This financing will help enable us to continue to grow our operational capabilities and will reinforce our position as a leader in the hospitality and event catering industry,” said Adam Noyes, CEO of Proof of the Pudding. “We appreciated the expertise of the First Citizens Sponsor Finance group in arranging this financing package as we advance our business objectives.”

“Proof of the Pudding is well known for its decades of experience in providing top-notch hospitality, service and quality,” said Kenneth Caffrey, a member of the Sponsor Finance team involved in the transaction. “We were pleased to work closely with Bruin Capital and management to understand their needs and provide the financing to support the company’s continued growth.”

First Citizens Sponsor Finance provides senior financing to middle market private equity firms and their portfolio companies across a variety of industries. The bank supports private equity transactions including leveraged buyouts, add-on acquisitions, growth capital and recapitalizations.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

About Proof of the Pudding
Based in Atlanta, GA, Proof of the Pudding has served top-notch cuisine, service and design for clients nationwide for more than 45 years. At state-of-the-art convention centers, sports arenas, collegiate stadiums, cultural landmarks, world-class golf courses, yacht shows and motorsports facilities, Proof’s passion for elevated hospitality, service and quality is served daily via custom creative menus. The company’s list of partnerships includes PGA Tour, Gas South Arena, Michelin Raceway & Tower, The World of Coca-Cola, The Carter Center, Georgia Tech University, Duke University, Mississippi State University, Wake Forest University and Emory Sports Medicine Complex. Proof’s services include food service and venue management, premium sports and entertainment, large-scale corporate and social events and wedding catering, customer service training and catering consulting. The company’s demonstrated expertise has been recognized with a variety of industry awards, including BizBash’s Industry Innovator Award. In 2023, Proof of the Pudding received investment from Bruin Capital, a global sports and entertainment investment company.

MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran2@firstcitizens.com