Dairy Crest has completed a debt refinancing deal resulting in the company extending its banking facilities until October 2016. Through the deal, Dairy Crest has secured a five-year revolving credit facility of 170m plus 131.2 from a syndicate of five banks and 54.5m of debt placement.
Dairy Crest said it had performed in line with expectations over the past six months despite the continuing economic turbulence.
Dairy Crest has swooped to buy cooking oil and salad dressing maker MH Foods. The deal is worth £13m and hands Dairy Crest control of the Fry Light cooking oil brand.
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