Menzies Distribution has secured a new £14m term loan with Royal Bank of Scotland.
Together with existing cash funds, the loan has enabled the company to refinance its recent short-term debt, used to fund the acquisition of Bibby Distribution in December 2020.
It will also provide additional funding to support the future growth of the business.
“This strategic refinancing is an important step in creating a strong and cost-effective capital structure, ready to support the exciting growth and investment opportunities across all our businesses,” explained Menzies chief financial officer Paul McCourt.
