HAK
Refinancing and increasing asset-based financing package
- In July 2022 Avaxa was engaged by HAK to assist in the refinancing and upscaling of its existing senior and asset-based facilities to a new financing package of EUR 71m;
- Founded in 1951, HAK has evolved as the market leader and innovator of plant-based food solutions in the Benelux. HAK is a purpose-driven organization with a mission to improve the diets of consumers by helping them to eat more vegetables and pulses, while investing in their Green Kitchen strategy focused on natural and healthy product development and local and sustainable farming. Its product offering spans the full vegetable spectrum through its well-known glass jars, innovative pouches and added value fresh solutions through HAK Fresh, targeting over 110 million consumers per year. The strategy for the coming years is aimed at further strengthening the HAK brand as an around-the-clock convenience provider of plant based meal solutions across its core markets;
- Based on the strategy and financial forecast of HAK, Avaxa assisted in determining the required debt quantum. Additionally, Avaxa assisted in drafting the new financing structure, preparing the information package for the lenders and the go-to-market strategy;
- We are proud to announce that we successfully supported HAK in the refinancing process. The new financing package provides HAK with the operational and financial flexibility as well as sufficient financial headroom to execute its growth strategy at very attractive commercial terms; and
- Avaxa ensured a smooth deal process with active involvement, quick response time, short communication lines and active stakeholder management throughout all phases.
