NNZ secures (re)financing for next phase of strategic growth
We use the deal card to tell you about our completed assignments.This gives you insight into our working method and cooperation with our various customers. We will kick off this series with the advisory process for NNZ.
Orchard Finance has been appointed as a financing advisor by NNZ in mid-2021 to support the nearly 100-year-old packaging solutions family business in financing its strategic plan.
NNZ is an international, innovative and sustainable company specialized in packaging for customers from the fresh produce sector and industry. Since its foundation in Groningen in 1922, the family business has developed into an organization with approximately 250 employees and an extensive worldwide network of its own branches and partners. NNZ offers customer-oriented solutions by working with specialists in materials science, food technology, graphic design and market research. For NNZ applies the highest standards in all packaging when it comes to sustainability, efficiency and food safety.
The process started with providing NNZ with an understanding of the different possible financing structures tailored to NNZ's business model and strategic plans. After choosing the desired financing solution, Orchard guided NNZ in carrying out a financing process in which four banks took part.
The financing process was completed in December 2021. The new financing offers more simplicity and flexibility for NNZ than the former facilities and also on more favorable terms. Part of the financing is offered in the local currency of subsidiaries.
''There is a lot of interest in the banking market for a strong player like NNZ. If the banks are approached in the right way, they are happy to offer tailor-made solutions that match the wishes of NNZ. The strong interest from the banks and the TLTRO discounts have resulted in attractive conditions for NNZ."
Rolf Michon, partner Orchard Finance