Moguntia Food Group, which sells spices and seasonings across Europe, has secured a £7m invoice package with NatWest to strengthen the company’s UK operations for expansion.
Moguntia, which employs 125 staff at its UK site in Hetton-Le-Hole, Sunderland, was founded in Mainz, Germany, in 1903. delicious products in the food industry in 29 different countries, while keeping “family traditions and values at the heart”.
In line with the company’s growth ambitions, the invoice finance package gives Moguntia the flexibility to quickly take advantage of any strategic acquisition opportunities, and the ability to respond to any changes in the market or increase in customer demand.
Darren Ferguson, head of finance at Moguntia, commented: “We are an ambitious company and are keen to explore future growth opportunities as they arise, whether through acquisitions or new partnerships with like-minded organisations.
“Our partnership with NatWest gives us the foundations and flexibility to be ready for growth, which is one of the real advantages of being financed by a UK-based bank with local teams.
“The financing package process is very open and flexible and has moved forward seamlessly. We felt welcomed by the bank from day one and the NatWest team supported us every step of the way to secure the deal.”
Graham Robinson, relationship director at NatWest, added: “It is an honor to be able to support the Moguntia team with their funding and expansion ambitions.
“It’s great for the region that a forward-thinking European organization has chosen to base its operations in the North East and I can’t wait to see what’s next for them now that they have the funding to pursue their growth ambitions.”
Invoice financing is a flexible way for businesses to lend money with reasonable payments to customers. This frees up finance and can help businesses reinvest in early growth.
By Matthew Neville – Senior Correspondent, Bdaily
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