Company active in the processed fruit and vegetable market


The Company is a prominent player in the processed fruit and vegetable market. The Company mainly supplies supermarkets and various catering establishments. Supply-Chain and same-day delivery are extremely important. The Company’s growth has resulted in expanding its business complex on several occasions. However, sales growth stagnated in 2021, partly due to changes in the supermarket landscape, but also due to the negative effects of the war in Ukraine and rising inflation, which led to higher purchase prices (packaging materials, transport costs and leafy vegetables). This also had a depressing effect on returns. Initially, covenants were agreed with the banks aimed at ingrowth. Nevertheless, the lagging growth, due to the above issues, resulted in this covenant not being achieved.

The Company requested Beaufort as an external party to validate and guide its forecast with adjustments in the financing documentation.

"IBR regarding refinancing and waiver request"