ABN AMRO Commercial Finance has partnered with AURELIUS Finance Company (“AFC”) to deliver an innovative multi-asset asset-based funding solution to Medina Group (“Medina”) – one of thenlargest UK dairy companies.
Established in 1992, the family business has grown to be a national supplier of milk, dairy and other food products. Medina now delivers to over 8,000 locations and supplies fresh milk, bread and eggs to supermarkets, convenience stores, restaurants and caterers on a weekly basis.
Having rapidly expanded over the last few years and securing supply contracts with national supermarkets, Medina required lenders who were able to support their growth ambitions in terms of both debt quantum and flexibility.
Ishfaq Ishaq, financial director, Medina Group, said:
“Our growth over the last few years meant that we outgrew our incumbent lender, the new funding provided by ABN AMRO and AFC gives us the platform to deliver the next phase of our growth strategy. It’s an exciting time for us and I am very much looking forward to working with ABN AMRO and AFC.”
Richard Foote, finance director of ABL structuring – international clients, ABN AMRO Commercial, said:
“Combining our funding expertise and relationship driven approach, this innovative collaboration with AFC has enabled us to provide a bespoke solution to support Medina’s strategic growth ambitions.”
Karun Dhir, managing director of AURELIUS Finance Company said:
“We look forward to working with the management team and together in partnership with ABN AMRO to provide the company with the flexible and supportive capital needed to deliver its growth strategy.”