Praetura Commercial Finance, an asset finance partner, has provided a £17 million funding facility to Community Foods, a supplier of dried fruit, nuts, and ingredients. This strategic move positions Community Foods for an expansion plan set to unfold in 2024.

Community Foods, based in Witham, Essex, is known for supplying retail-ready and bulk ingredients to major grocery and manufacturing clients. The business caters to retail giants such as Sainsbury’s and Tesco.

The infusion of £17 million from Praetura Commercial Finance underscores Community Foods’ commitment to a comprehensive three-year strategic investment plan. This plan encompasses pivotal initiatives like site improvements and the augmentation of manufacturing capabilities. Acquired by long-standing partner Vesta Fruit in 2023, Community Foods aims to amplify its 150-strong workforce and further bolster revenues, having already surpassed £70 million last year.

Martin Rome, Managing Director at Community Foods, expressed excitement about the company’s trajectory, with the new funding from Praetura adding considerable momentum. Rome emphasised the growth opportunities recognised by the company and the strategic investments required to seize them. Praetura Commercial Finance’s senior management team earned praise from Rome for their professionalism and expertise in asset-based lending (ABL).

Stuart Bates, commercial director at Praetura Commercial Finance, said: “Community Foods has been a trusted expert in the sourcing and supply of dried fruits, nuts and seeds for over five decades. I was impressed by the board’s commitment, knowledge and passion for the business, led by Martin Rome. The new ownership with Vesta gives Martin and the team an excellent platform to drive shareholder value in the coming months and years.    

“We’re pleased to have the opportunity to support the team, providing the right ingredients for growth in the form of an ABL funding facility and our trademark more than money approach to relationship-led lending.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.