Health supplements firm plans for growth after £2m refinancing

Richard Greathead

Fylde-based Nutrition Group, a global supplier to the dietary supplements market, has secured a £2m working capital facility from Barclays Corporate Banking to position the business for further growth.

Steve Berry, relationship director, led the transaction for Barclays alongside Robert Weston, trade and working capital team.

Nutrition Group is a rapidly-expanding contract manufacturer within the health supplements and sports nutrition market sectors.

Under the former name of RPL, Nutrition Group was founded by Peter Greathead in 1993.

Over the past three decades the group has grown to become a renowned and trusted British manufacturer on an international scale.

Installation of a state-of-the-art protein bar production line resulted in the growth of the business in recent years.

The management team, therefore, required a more flexible funding model to provide the business with the liquidity it needs to allow further business growth.

Richard Greathead, Nutrition Group chief executive, said: “We’re delighted to get this deal over the line – it really illustrates the strength of our business and is a very positive indicator of market confidence in our sector, despite the challenges in the global economy.

“The new package has given the business flexible working capital, which aligns with the requirements of the shareholders. The relationship with Barclays continues to flourish as another successful deal concludes.”

Steve Berry said: “Nutrition Group benefits from an excellent reputation built over many years, operating in a sector which has experienced huge growth as consumers look to adopt healthier lifestyles as their interest in health, diet and nutrition continues to develop.

“It’s refinancing package means the business is in the best possible shape to take advantage and we look forward to working alongside Richard and his team as Nutrition Group continues to grow.”