ABN AMRO Commercial Finance UK completes a £23.06m Asset Based Lending solution for Evolution Foods LTD

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News - 08 April 2021

Evolution Foods Ltd is the UK’s leading independent importer and supplier of dried fruit and nuts. Founded in 2006 in Shrewsbury, the business has over 20 years’ expertise within the food industry. They supply a range of dried fruits, nuts, seeds and healthy snacks from the firm’s 75,000 sq ft factory in Shrewsbury, where the business produces 100 million packets a year for shops and supermarkets across the UK and the Continent.

The company prides itself on its environmental and sustainable values. It launched a plastic-free range in 2019 and products sourced are checked to ensure suppliers and growers adhere to environmental and sustainability ethics and standards, together with responsible labour conditions.

In line with their ambitious growth strategy, Evolutions Foods sought funding to provide headroom for growth and working capital requirements. The business specifically looked for a funding partner with the funding adaptability that would open up space for business growth. ABN AMRO Commercial Finance provided a flexible funding solution comprising Receivables Finance, Revolving Inventory and a Term Loan facility in respect of property. The solution paves the way for continued product expansion and the ongoing growth of Evolution Foods.

Guy Walsh, Regional Director, ABN AMRO Commercial Finance UK said, “It’s been a pleasure working with the team at Evolution Foods Ltd. It’s a terrific business, with a sustainable focus, and it’s grown rapidly since inception. We’ve been pleased to have played a part in supporting its ongoing growth.”

Mike Alexander, Financial Director, Evolutions Foods said, “We ran a full debt advisory process which enabled us to assess market appetite for the funding structure we needed. ABN AMRO quickly demonstrated to us that they had an ability to put in place a competitively priced package of facilities with an ability to grow with us as we move to the next stage of our development. We very much look forward to building a long-term relationship with them.”