The Real Good Food Company, the diversified food group that owns Thornbury-based sugar and dairy ingredients firm Garrett Ingredients, has completed a new 5-year, £50m bank facility with its financiers PNC Financial Services UK.
The new facility, a £10m increase on its existing facility, will run until December 2017 and includes a mixture of revolving credit facilities secured on trade debtors and inventory and term loans secured on the fixed assets of the business.
Chairman Pieter Totté said: “I am extremely pleased we have been able to extend our relationship with PNC, who have always been supportive of the group and have demonstrated their continued commitment by providing the facilities we need to help deliver our ambitions.”
Garrett supplies dairy and other specialist food ingredients sourced from across the UK and Europe to large, medium and small UK food manufacturing businesses.
Real Good Food also owns Devizes-based patisserie and desserts producer Haydens Bakery, Yorkshire-based sugar firm Napier Brown, Liverpool bakery ingredients business Renshaw and Scottish bakery ingredients and jam manufacturer R&W Scott.
