Juices and fruit-based desserts maker Orchard House Foods has secured a £21.73 mln asset-based lending facility from Secure Trust Bank Commercial Finance. The deal follows Elaghmore’s acquisition of the Corby-headquartered fresh fruit business in January 2021 and will enable the company to invest in new equipment and ongoing product development.
Orchard House Foods supplies to retailers across the UK and Ireland, including Marks & Spencer, Sainsbury’s, Greggs and Pret a Manger.
As reported on insidermedia.com¸ UK private equity fund Elaghmore invests in companies with a view to driving organic growth, with the objective of doubling the revenue of its portfolio within the first five years of investment. Having raised a £60 mln fund in 2016, Elaghmore completed a £30 mln top-up last year to invest in UK companies.