Potato supplier Greenvale Holdings plc group (Greenvale) has been taken into private ownership by a purpose-built company.
Produce Investments Limited acquired the group for an undisclosed sum, aided by the Specialist Finance Division at Clydesdale Bank.
Produce Investments Limited, chaired by Barrie Clapham, was established specifically to acquire and grow the Greenvale business.
Clapham said Produce Investments is delighted to be involved with one of the UK’s leading suppliers of fresh potatoes and potato products.
“We look forward to providing complementary skills and resources to a management team that we regard as the best in the industry, to enable them to take advantage of the exciting opportunities that exist for the business,” he claimed.
Paul Argent, director of Clydesdale’s Specialist Finance division expressed similar sentiments, adding: “From a position of mutual trust and understanding and using Clydesdale’s acquisition finance expertise and strong presence in the agricultural sector, we were able to tailor a financing package that precisely matched the needs of Greenvale and Produce Investments Limited.”
Alan Owens, chief executive of Greenvale matched Argent’s enthusiasm, emphasising Clydesdale Bank’s “excellent reputation within agriculture and agricultural related industries”.
“Clydesdale have taken the time to understand the company and to provide a structure that suits the business and we look forward to working with them to grow the business still further,” he said.
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