Barclays helps Nutrition Group fund future growth
Nutrition Group, the Fylde-based health supplements and sports nutrition manufacturer, has secured a £2m working capital facility to fund future growth.
The company exports its goods around the world and has witnessed a spike in growth for its vitamins during the coronavirus pandemic.
It has also enjoyed increased sales resulting from recent investments, including a state-of-the-art protein bar production line.
Richard Greathead, chief executive officer at Nutrition Group, said: "We’re delighted to get this deal over the line - it really illustrates the strength of our business and is a very positive indicator of market confidence in our sector despite the challenges in the global economy.
"The new package has given the business flexible working capital, which aligns with the requirements of the shareholders."
Steve Berry, relationship director, led the transaction for Barclays Corporate Banking alongside Robert Weston, Trade and Working Capital Team.
He said: "Nutrition Group benefits from an excellent reputation built over many years, operating in a sector which has experienced huge growth as consumers look to adopt healthier lifestyles as their interest in health, diet and nutrition continues to develop."
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