Univeg’s Fruit Farm Group upsizes senior notes offering to €60 million

By Toni Weeks

San Luis Obispo, Calif., Dec. 11 – Univeg Group subsidiary Fruit Farm Group upsized its senior secured notes offering to €60 million from the previously announced €45 million, according to a notice.

Proceeds, along with new cash equity in the amount of €35 million and bank facilities, will be used for the sale of agricultural assets to Fruit Farm Group from Univeg.

Fruit Farm Group has been carved out from the Univeg Group to operate strategic agricultural assets on a stand-alone basis.

Sint-Katelijne-Waver, Belgium-based Univeg is a vertically integrated sourcer and supplier of high-quality fresh fruits and vegetables.

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