UK: Fletchers hints at expansion, secures refinancing deal
Fletchers is a supplier of bakery products to Sainsbury's and Tesco
Fletchers Group of Bakeries has secured GBP4.5m (US$7.3m) as part of a refinancing deal with ABN Amro in a move that will allow the group to invest in growth.
Speaking to just-food today (6 February), a spokesperson said the company would invest in organic growth, spending a big portion of the cash on improving existing sites in London, Manchester and Sheffield. He added that the baker would not "rule out" the "potential for strategic acquisitions."
The agreement represents a renewal of existing loan facilities and is part of a five-year GBP22m refinancing deal with ABN Amro.
As yet Fletchers has not established a timetable for its investment programme. However, since the refinancing deal spans three-to-five years, the spokesperson revealed: "whatever happens will happen in that timeframe."
In the last year the firm announced a number of developments including the closure of a non-profitable facility in Barnsley. No further closures are planned.
J Sainsbury plc (SBRY) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by Glob...
Project Synopsis: MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity unde...
Canadean's "Tesco Kipa Kitle Pazarlama Ticaret ve Gida Sanayi A.S. : Retailing - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations...
Tesco aims to maintain its leading position in retailing in Hungary in 2013 through constant innovation, an ever wider range of products and a stronger image through the offer a new private label rang...
- Pricing, productivity pay off for Mondelez
- BRICs and beyond: Kam Tai's Chinese growth story
- Analysis: Unilever's global ice cream push
- Happy Family CEO on baby and beyond
- Briefing: How is gluten-free faring in Europe?
- Nakd sale "attracts Burton's, Hain, Kellogg"
- Venezuela seizes Nestle, PepsiCo distribution hub
- Kerry launches premium cooked meat brand in UK
- Mondelez "cautiously optimistic" on China
- Bel international reach offsets Europe challenge