Deal News -
Arbuthnot Commercial ABL backs ethical food wholesaler’s plan for a sustainable future with £3m funding package
Arbuthnot Commercial Asset Based Lending (ACABL) has delivered a comprehensive £3m funding facility for Coconut Merchant to drive further growth.
Arbuthnot Commercial Asset Based Lending (ACABL) has delivered a comprehensive £3m funding facility for Coconut Merchant to drive further growth. The flexible refinancing package comprises a revolving invoice discounting facility and a term loan.
Already the number one coconut oil seller in Europe on Amazon, the additional funding will allow the ethical food wholesaler to expand its European operations. Coconut Merchant specialises in supplying coconut-based products, including water, oils, and butter, and is now looking to extend its product range, following a significant rise in brand-driven consumer demand. The health benefits associated with these products have become widely publicised, leading to large retailers such as major supermarket chains and Amazon broadening their ranges. The business supports farmers and local communities in Sri Lanka, Thailand, Vietnam, the Philippines, and Indonesia.
Shan Vignes, Managing Director, Coconut Merchant, said
“I have built an excellent relationship with the team at Arbuthnot Commercial ABL, having worked with them in the past, it is good to have the opportunity to continue the journey we embarked on with them several years ago. They have built a strong understanding of our business needs over the years, which enabled them to put together a larger facility in line with our requirements, underpinned by a high level of personal service. At Coconut Merchant, supporting farmers is at the heart of what we do. Ultimately, the funding from Arbuthnot enables us to continue our work by helping more farmers and farmers' cooperatives and, by extension, their supply chains, and local economies.”
Andrew Rutherford, Commercial Director, Arbuthnot Commercial Asset Based Lending, commented
“It is wonderful to be working with Coconut Merchant again. The business enjoys significant brand loyalty, which resulted in increasing demand from its customer base for a wide range of organic, natural foods. Importantly, this funding will not only meet Coconut Merchant’s working capital needs as it continues to scale but will also have a ripple effect in creating new opportunities for the farmers and the local communities they support.”
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Registered in England and Wales no. 10915339. Arbuthnot Commercial Asset Based Lending Limited’s registered office is Arbuthnot House, 7 Wilson Street, London, EC2M 2SN. Arbuthnot Commercial Asset Based Lending is not authorised and regulated by the Financial Conduct Authority.