Vision Capital LLP, an international private equity firm, purchased a portfolio of investments from Northern Foods, plc. These included the UK’s leading supplier of savoury pastry products; a leading private label supplier of a wide range of fresh and frozen bread and speciality bakery products; the leading UK private label producer of premium cakes and desserts and a flour mill.
After an initial bridging loan, a sale and leaseback on selected properties and the sale of the flour mill, the remaining three investments were funded via asset based lending from a major high street bank. The loans were all cross-collateralised and cross-guaranteed. However, under Vision Capital’s ownership, strategies for reorganising operations and enhancing profitability were implemented; these turned the businesses around, allowing them to invest and expand achieving sector leading positions for quality, consistency of customer service and product innovation. Click here to read more…
