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DECEMBER 2011

Eden Springs secures €150 million credit/acquisition facility from European banks



Strong financial performance and robust operating profits have enabled Eden Springs, the leading European office beverage company, to secure a new credit/acquisition facility to fund future growth. Sourced via a group of top-tier European banks, the €150 million war chest will enable the company to consolidate and build upon its position as Europe’s number one provider of drinks solutions to the workplace.

Eden Springs’ Group CEO, Raanan Zilberman, says: "We are delighted to have secured this deal in challenging economic times for banking in Europe, and deem it a vote of confidence by the financial system in our business. We will dedicate a significant part of the capital raised to enlarge and expand the company’s business through organic growth and acquisitions of various companies."

The credit/acquisition facility of €150 million is secured for a period of five years. It will allow the refinancing of current liabilities within the company and will be used as working capital for the group’s business in Europe. The funds will also finance new acquisitions and investments in the near future, that will enable the expansion of Eden Spring’s offer and its international coverage.

The €150 million credit/acquisition facility was signed with a consortium of several European banks, headed by RaboBank International and the Royal Bank of Scotland.

In recent years, the company significantly reduced its financial gearing, through a strong cash flow management strategy. Current operating profit, before depreciation and amortization, is now at €46 million per year, accounting for approximately 19 per cent of turnover.

Raanan Zilberman, continues: "Completing such an extensive credit-securing process, especially in such difficult times in the financial industry in Europe, attests above all to the confidence which the European financial bodies and systems have in the group, and to the company’s financial and business strength. A considerable portion of the credit/acquisition facility will be dedicated to consummating the company’s strategic decision to expand the line of products and services it offers its customers, and to continued investments and acquisitions of significant business activities in Europe."

In the last year the Eden Springs Group announced the acquisition of two significant businesses in Europe. The first was the acquisition of Nestlé’s bottled water cooler business in France (with a turnover of approx. $18 million), and the second was the acquisition of the Shakespeare Coffee -UK’s largest independent coffee solution providers (with a turnover of approx. €7 million).

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For more information please contact:

Jarrod Langhans
Director of Investor Relations and Corporate FP&A
Phone: +1-813-313-1732
Email: investorrelations3@cott.com


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