The family business, based in Slough, Berkshire, turned to the bank to acquire the multi-million pound loan to purchase the large Blaydon processing plant in Newcastle after it went into administration in 2009. The funding package was also used to extend its factory premises in Wickham, Hampshire, and install two processing lines.
Medina Dairy has ambitious growth plans to double its sales over the next five years. From working closely with Medina’s management team for more than 20 years, Lloyds TSB Corporate Markets has an acute awareness of the company’s aspirations and was therefore eager to assist the company in this deal to enable its growth plans to be fulfilled.
Sheazad Hussain, MD of Medina Dairies, said: “We have high hopes for the expansion of our business and this funding will enable us to increase our production in line with our growth strategy.”
Nigel Gibson, relationship director, Lloyds TSB Corporate Markets, Thames Valley and South, who lead the funding deal, said: “Medina Dairy is a very impressive company that’s bucking the trend and thriving in a difficult industry. With a strong and committed management team, we’re privileged to support the company’s ambitious growth plans and enable them to build on their existing success to meet their full potential.”
Source: Lloyds TSB Corporate Markets
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