3 October 2014
On October 2, 2014, shrimp wholesaler Klaas Puul reached an agreement with a new bank consortium on the refinancing and expansion of the current credit facilities. The required € 50.5 million and $ 12.5 million senior term loans, asset financing and working capital financing was realised using the advice and support of Integrated Finance Solutions.
Klaas Puul
Klaas Puul is a wholesaler and producer of shrimps and other seafood products. The core activities of Klaas Puul comprise global purchasing, production, processing and sale of North Sea and tropical shrimps. Procurement and processing of both products differs and requires a differentiated approach. Purchase of North Sea shrimps is done through its own landing stations in Germany and Denmark and through auctions in the Netherlands. Purchase of the tropical shrimps takes place in Asia and South America.
Klaas Puul has three production and storage facilities, in the Netherlands (fresh and frozen shrimps), Belgium (frozen tropical shrimps) and Morocco (peeling of North Sea shrimps). Shrimp sale takes place in the Netherlands, Germany and France. Over the years, Klaas Puul has made several acquisitions and investments in production capacity such as storage and peeling facilities, herewith achieving a leading market position.
The new credit facilities are provided by ABN AMRO Bank, ABN AMRO Commercial Finance, Deutsche Bank and Deutsche Bank Asset Based Finance and are based on English LMA documentation basis.
More information?
For more information please contact Integrated Finance Solutions at +31 30 760 2110.
