Reach Commercial Finance has secured funding to help Tuber Group acquire a plant‐based convenience foods manufacturer based in Scunthorpe.
Tuber Group trades globally across a wide range of commodities including fresh and frozen produce, nuts, and wild bird feeds.
Using Reach expertise they have brought on board Saxon Foods, a respected player in the plant‐based sector with over 30 years’ experience sourcing and distributing a range of frozen added‐value vegetable products to retailers, wholesalers and the foodservice market in the UK. Its products are also sold into continental Europe.
Steve Humphrey, Managing Director of Tuber Group, contacted Phil Trueman from Reach to find the £850,000 required to deliver the acquisition.
Phil recommended Close Brothers Invoice Finance as a funding partner based on their capacity to generate the cash support from day one, as well as providing longer‐term services to the business.
Working closely with Lee Hayes, Regional Sales Director, the deal was concluded within three months.
Steve Humphrey commented: “Phil has assisted us with numerous transactions in the past and this time he not only made sure the deal was on the table, but also provided a huge amount of administrative support to help deliver the legals around it.”
Phil added: “There were one or two hold ups which delayed the deal, but Lee and I put in the effort required to get it done as soon as we could.”