Sunderland food firm eyes expansion following £7m NatWest finance package

Moguntia Food Group, which sells seasoning and spices across Europe, has secured a £7m invoice finance package with NatWest to bolster the firm’s UK operations for possible expansion.

Moguntia, which employs 125 staff at its UK base in Hetton-Le-Hole, Sunderland, was founded in Mainz, Germany, in 1903. The family-owned firm manufactures and sells seasonings and spices, as well as a range of free-from savoury products to the food industry in 29 different countries, while keeping “family traditions and values at its heart”.

In line with the firm’s growth ambitions, the invoice finance package gives Moguntia the flexibility to quickly take advantage of any opportunities for strategic acquisitions, as well as the ability to react to any changes in the market or increases in customer demand.

Darren Ferguson, head of finance at Moguntia, commented: “We are an ambitious company and keen to explore future growth opportunities when they arise, be it through acquisitions or new partnerships with like-minded organisations.

“Our deal with NatWest gives us the foundations and flexibility to be ready for growth, which is one of the real benefits of being funded by a UK-based bank with local teams.

“The process of securing the finance package has been very open and flexible and has progressed seamlessly. We felt welcomed by the bank from day one and the team at NatWest have supported us at every step of the way to get the deal delivered.”

Graham Robinson, relationship director at NatWest, added: “It’s a privilege to be able to support the team at Moguntia with their financing package and their expansion ambitions.

“It’s fantastic for the region that such a forward-thinking European organisation opts to base their operations in the North East and I can’t wait to see what’s next for them now they have the funding in place to pursue their ambitions for growth.”

Invoice financing is a flexible way for businesses to borrow money against payments due from customers. This frees up finances and can help businesses reinvest in growth at an earlier stage.

By Matthew Neville – Senior Correspondent, Bdaily

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