Completion of a 3 M€ refinancing for Cafés Legal
ChetWode announces the completion of its 100th transaction closed on 25th June 2015 : a Sale & Leaseback financing on some of Cafés LEGAL’s production equipment (coffee roasters, packaging and capsule production lines…), implemented in partnership with Abbey International.
This transaction consists of the refinancing of a previous operation completed by the same partners. The aim was to generate the cash needed to support the international expansion of Cafés LEGAL and strengthen its commercial strategy, namely through the acquisition of new production tools.
Alain Frydman, Cafés LEGAL President states : “It was very important for us to quickly obtain financing so as to finalise the acquisition of new high-performance production tools to support our growth. ChetWode’s specific experience in Sale & Leaseback and our long-standing relationship with Abbey International allowed us to meet this challenge”.
This new transaction is part of a longstanding relationship between Cafés LEGAL and ChetWode, during which the French coffee roaster has been calling upon ChetWode as mandated advisor, to assist them with the implementation of financing for their « Capsule » project.
Jean-Baptiste Magnen, ChetWode President comments : ”We are very proud to reach this symbolic 100 transaction threshold and particularly pleased to have achieved this with Cafés LEGAL, a long-standing ChetWode customer and Abbey International, one of our historic financial partners. In addition to its technical and financial expertise, ChetWode is committed to helping its customers meet their development objectives and building up strong partnerships both with them and with international investors”.
Implemented in partnership with Abbey International, an Irish leasing and investment company, this financing is a new illustration of the strength of the relationship between Abbey International and ChetWode.
John Prosser, Managing Director of Abbey International states : “we are very satisfied with our ongoing relationship with ChetWode with whom we have put in place a significant number of transactions throughout Europe over the past 10 years. Since ChetWode introduced us to Cafés LEGAL back in 2010, we have been accompanying the redevelopment of the company from a financial perspective and we strongly appreciate the quality of its management and their projects. Therefore, it made perfect sense for us to agree to this refinancing project”.