Real Good Food agrees new £50m facility

REAL Good Food Co, the Liverpool-based manufacturer and supplier of sugar and other catering ingredients and products, has announced a new five-year £50m funding deal.

The company, whose brands include sugar distributor Napier Brown, Garret a supplier of dairy ingredients, bakery specialist Renshaw, coatings and jams business R&W Scott and also makes sweet bakery products under the Haydens name, has agreed the package with is  current financiers PNC Financial Services UK.

The new package came ahead of the maturity of its existing £40m deal in July 2013.  The facility comprises of a mixture of revolving credit facilities secured on trade debtors and inventory and term loans secured on the fixed assets of the business.

Real Good Food executive chairman Peter 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.”