Europe: Senior debt financing helped Looije Tomaten to expand

According to a news release on their website, NIBC Bank completed a senior debt transaction for their new client Looije Tomaten Holding, stepping in at a decisive moment for the Dutch producer. Looije will use the financing to acquire additional land, invest in production expansion and new packaging capacity. Looije Tomaten Holding is a large and successful Dutch producer of high-quality tomatoes. Its branded Honing tomatoes are the best and most expensive Dutch tomatoes, distributed exclusively via speciality stores in the Netherlands and Germany.

Looije came to NIBC and fellow bank ABN AMRO when he wanted to buy extra land and expand production and packaging capacity. He was in a hurry: he needed the financing quickly so he could order new greenhouses in time to launch the winter season production cycle.

"This was a great opportunity to make a difference to a truly entrepreneurial company," says Hans Rijnberg, Director on the Food, Agri, Retail (FAR) team.

"The agri sector has been through some tough times, but we're convinced that in every industry there are good businesspeople and good transactions that merit financing," says Hans. "This deal really came at a critical moment for Looije Tomaten, which is the heart of our mission as a bank."

Source: NIBC.COM