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Adam Beech
Juices and fruit-based desserts maker Orchard House Foods has secured a £21.73m asset-based lending facility from Secure Trust Bank Commercial Finance in a bid to support its growth plans.
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.
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 £60m fund in 2016, Elaghmore completed a £30m top-up last year to invest in UK companies.