NeutraHealth takes £8m loan for company expansion

NUTRACEUTICAL company NeutraHealth has taken a £8m asset based lending facility from KBC Business Capital.

It will support the refinancing of the senior debt facilities at the company, which is based in Kings Norton, Birmingham, and help to support its growth plans.

The facility comprises a mixture of accounts receivable, inventory and a cash-flow loan.

KBC Business Capital is the specialist asset based lending division of Belgian banking group KBC Bank.

Robin Hilton, finance director at NeutraHealth, said: “KBC impressed me with their professionalism and pragmatism throughout the negotiation of our new facilities.

“They have provided a financing structure that is innovative and meets the needs of our business as we expand.”

Graham Barber, business development and marketing director for KBC Business Capital, added: “We are delighted to be supporting NeutraHealth and wish the team every success as they drive the business forward into its next phase of growth.”

NeutraHealth is listed on the alternative investment market (AIM), the London Stock Exchange’s international market for smaller, growing companies.

Its principal activities are the manufacture, distribution and sale of neutraceutical products such as vitamins and minerals.

Formed in 2004, NeutraHealth operates three distinct businesses – BioCare supplying specialist products direct to practitioners, Brunel Healthcare manufacturing and supplying private label products and contract manufactures and Totally Nourish, a dedicated internet portal supplying vitamins, minerals and supplements via the web.

NeutraHealth was advised by Baker Tilly and Clarke Willmott and KBC Business Capital was advised by Mills and Reeve.