Gimv / Snack Connection
Refinancing of working capital facilities
- In 2023, Avaxa was engaged by Snack Connection, a portfolio company of Gimv, on the refinancing of its working capital facilities;
- Founded in 2010, Snack Connection is a leading supplier of a.o. nuts, kernels and seeds to large European retailers. The company specialises in the sourcing, processing, seasoning, mixing and packaging of various types of nuts and seeds. It has an extensive portfolio of high-quality products which it mainly sells to retailers under private label, but also to food industry and other B2B clients;
- The expiry of its existing financing package combined with expected further growth led to the need for a new working capital facility;
- Avaxa has run a financing process for Snack Connection in which both traditional lenders as well as specialized factoring companies have been approached. Avaxa prepared an information package including bank presentation, financial base case and Request for Proposal for potential financiers;
- Rabobank and Impact Factoring provided a combined financing package in which Rabobank finances the company’s inventory, and Impact Factoring its receivables.
- Closing of the transaction occurred in July 2024.
