Before the end of the financial year (March 2021), as previously announced, Greenyard today confirmed that the company has received the necessary support and commitment to refinance its outstanding debt. Moreover, it has attracted two private investors who have committed to participate in a € 50m reserved capital increase in total. Going forward, and as a leading company in the industry, Greenyard is committed to continuously leveraging its scale and be a driving force towards a healthier future for customers, consumers, growers and our planet.
The Q3 results showing promise and voicing ambition, today’s announcement marks the next step in Greenyard’s journey towards continued growth and a healthy future. Greenyard has received the support and commitment from the banks as well as a guarantee of the Flemish Government for the full refinancing of its outstanding debt. On top of that, the company has signed an agreement with investors Alychlo NV (an investment company controlled by Mr Marc Coucke) on the one hand, and Mr Joris Ide on the other, for a total capital increase of € 50m. Mr Marc Coucke will also be appointed as member of the Board of Directors.
This new capital structure results in a debt ratio of around 3,0x versus the earlier guidance of 3,5x by the end of the financial year, which is end of this month (March 2021).
Together with Greenyard’s solid performances over the last periods, this important step further enables the company to fully focus on continued growth and the execution of its ambitious long-term plans.
In a nutshell:
Read the Press Release for further details.