Bibby Financial Services (BFS) has provided a £5m funding facility to Hider Foods International Ltd, a wholesale food supplier based in Hull.
The family-run business, which began trading in 1965, imports fine foods to its UK based customer base. The company specialises in nuts, dried fruits and other fine foods including Hazer Baba Turkish Delight, Bavarian Organic Breads and seasonal Christmas Stollen.
The business has a wholesale, retail and ingredients division and supplies to many well-known retailers. It is also involved in the manufacture of its nut products, including drying, roasting, salting, flavouring and packing.
BFS’s corporate team in the North were introduced to Hider Foods International Ltd. by the company’s financial advisors, Duff & Phelps. They worked together closely, to quickly structure a deal that met the financing needs of the business. The £5m funding facility will help the business pursue its ambitious growth plans, while providing the flexibility the company needs to thrive.
Duncan Hider, Managing Director Hider Foods International Ltd. commented: “As a long-standing family business, we have a firm footing in the market and a well-established customer base. This fresh injection of finance will enable us to focus on fulfilling our customers’ orders and work to expand our offering.
“The BFS team responded very quickly and were able to work with our advisors to structure a funding facility that met our specific needs.”
David McIntyre, Corporate Manager at Bibby Financial Services, said: “Hider Foods International Ltd. is a well-known and long established importer in the region with a strong heritage in Hull. We’re very happy to have been able to provide Duncan and the team with the funding they needed within what was a tight timescale. We look forward to working with the management team as they grow the business.”