28 January 2015
On January 18, 2015 Oriental Group, known as "Amazing Oriental", completed the refinancing of its existing bank facilities with ING Bank. The bank also provided the co-op with real estate financing for the construction of an additional distribution center for frozen and fresh products. The new financing arrangement is large enough to meet the expected growth of Oriental Group. ING Bank also provides the entire account structure, payments execution, collection processing, bank guarantees and interest rate and currency hedging facilities. Integrated Finance Solutions, as adviser to the co-op, accompanied the entire process.
Amazing Oriental
Amazing Oriental is an Asian supermarket chain founded in 1986. Meanwhile, Amazing Oriental delivers more than 600 authentic Asian brands to the catering industry, restaurants, wholesalers and private individuals in the Netherlands and Spain. The assortment consists of various Asian, tropical and exotic food, non-food and fresh products.
The current headquarters and modern distribution center is located in Hoofddorp. Amazing Oriental has more than 500 employees and is currently the largest Asian supermarket chain in the Netherlands.
Given the growing demand for food and non-food products from around the world, an increasing number of Western clients who prefer qualitatively good Asian food find their way to the supermarkets of Amazing Oriental. Consequently, Amazing Oriental experienced significant growth of the number of branches during recent years, expanding to approximately 20 locations in large and medium cities the urban western part of the Netherlands. Amazing Oriental intends to achieve a further rollout of stores and locations in order to meet the increasing demand of its customers and to enable these ambitions, the current distribution facilities will be expanded with an additional distribution center for frozen and fresh products.
More information?
For more information please contact Integrated Finance Solutions at +31 30 7602110.
