Calypso Soft Drinks in £9.2m refinancing deal

WREXHAM-based Calypso Soft Drinks has completed a £9.2m refinancing deal to support the continued expansion of the business.

The facility, arranged through the Manchester office of asset-based lender GE Capital, consists of invoice discounting, inventory and plant and machinery finance. 

Peter Cooke, chief executive of Calypso Soft Drinks, said the deal would greatly increase working capital facilities and give the firm the headroom it required to expand the business further.

He added: “Due to the seasonality of our business we required a funding solution that was tailored to our needs.”

Richard Spielbichler, regional director for GE Capital, added: “This is a strong brand and we are pleased to be able to offer such a long-established family business a flexible funding solution.”

He added: “Calypso Soft Drinks has a strong management team and we look forward to working alongside the team as the organisation focuses on its goals for the future.”

The company was introduced to GE Capital UK by Ian Latham, corporate finance partner at accountancy firm  Baker Tilly, who advised on all aspects of the deal.

The Calypso brand accounts for 70% of sales supported by sub-brands including Aquajuice 67, Juice Shots and Jubbly, which are supplied into retail mulitples, the food service sector and cash and carry outlets.

Founded by the Cooke Brothers in 1886 as a dairy, Calypso Soft Drinks continues as a family run business following a management buyout in 2005.