Greenyard confirms the completion of the earlier announced lease-and-lease-back transaction, with real estate investor W.P. Carey Inc., of its Greenyard Prepared facility in Bree, Belgium. The Prepared division, which is part of the Long Fresh segment, remains operational in a business-as-usual-modus.
The transaction generates € 89,9m proceeds, net of tax. The proceeds will be fully used to voluntarily decrease bank debt.
On top of solid financial results
Through its model of collaboration with different stakeholders in the supply chain, Greenyard has responded in a stable yet agile manner to tough economic times, in line with the solid results that were stated in its annual report 21/22. Profitability improved to € 166,5m Adjusted EBITDA with a Net Result of € 16,9m.
“The transaction allows for a diversification of funding. Aside from cementing Greenyard’s financial stability for the future, it will also generate more room for growth in line with the strategic plans of the company,” says Geert Peeters, CFO at Greenyard.