Posted By Gbaf News
Posted on August 29, 2017
One of London’s leading independent law firms, Joelson, has helped Real Good Food on their raising of more £15.5 million in expansion capital.
Paul Chiappe
Aim-listed Real Good Food plc has raised the additional capital as part of their plans to expand their subsidiary companies, Renshaw in Crown Street, Liverpool and Haydens in Devizes, as both business experience growth in demand for their products.
To ensure an appropriate level of working capital remains in the business while the expansion is under way, the Company has also secured £2 million through loan facilities from existing shareholders of the Company, Napier Brown Holdings Limited and Omnicane Limited.
The money raised will be split almost equally between the two firms (£7 million and £8 million respectively) to increase capacity at the sites, both of which work in the bakery sector.
Some of the funding will also be used to increase efficiency, while also upskilling the workforce. The majority of the Expansion Plan is expected to be completed by the end of September 2017.
Joelson assisted Real Good Food with the legal matters relating to the fund raising exercise, playing an important role advising the team which helped it to reach completion.
Speaking about Joelson’s role in the transaction, Paul Chiappe, Corporate and Commercial Partner at Joelson, said: “We are delighted to have helped Real Good Food with this latest round of fundraising, which will be put towards the expansion of two well-known bakery brands.
“We always aim to offer the highest levels of service and advice that we can to clients, which is reflected in our high rate of success when helping businesses with fund raising and other transactions.”
