NutraHealth secures multi-million pound finance package
1 min read
Midlands-based NutraHealth has secured a funding deal worth more than £20 million from the Royal Bank of Scotland (RBS).
NutraHealth was founded in 2004 and is one of the largest manufacturers and distributors of vitamins, minerals and supplements in the UK ? supplying all major multiples and independent health food stores, as well as selling directly to consumers. NutraHealth also supplies international pharmaceutical and multi-national corporations, exporting to more than 70 countries worldwide.
The firm operates out of sites based in Kings Norton, Birmingham, and Swadlincote, Derbyshire, with a headcount of over 350.
As part of the funding arrangement and refinancing package, which includes a £15 million lending facility from RBS Invoice Finance, the business is set to boost sales of over-the-counter pharmaceuticals. Additional support has been provided by the bank's asset finance arm, Lombard.
The deal also enables NutraHealth to increase exports and launch new product lines under its four operating companies ? BioCare, Natural Wellbeing, Brunel Healthcare Manufacturing and Max Healthcare.
The picture shows (L – R): James Amery, NutraHealth's group finance director, Nick Randle, relationship director for RBS, Matt Broomfield, corporate development manager for RBS Invoice Finance, and James McEuen, chief executive of NutraHealth.
