Background
European Valuations’ was engaged by Argent Foods Group to appraise Argent’s inventory assets. European Valuations worked closely with Argent and their advisers Álvarez & Marsal as part of the collateral review process which led to a structured ABL deal for facilities totalling £74m.
Argent Group was originally formed in 1997 with turnover now in excess of £760 million. The Group employees 1,000 people and operates several companies within the meat industry including the UK’s largest catering butcher. The Groups activities focus on the processing, manufacture, supply and marketing of fresh fruit and produce, meat and poultry.
Argent’s corporate headquarters are in London with operations in Europe, North America, Africa and Australasia.
Leumi ABL and the incumbent provider Lloyds Bank agreed to a £74m club lending facility comprising £55m invoice discounting, a £10m revolving credit facility and a £9m term loan.