Greenyard signs real estate transaction, seeking long-term refinancing and room for growth

Greenyard announces that it has entered into an agreement with a real estate investor to lease its Greenyard Prepared division facility in Bree, Belgium, which is part of the Long Fresh segment.

The transaction generates approximately €90 million in net tax income, in a good market dynamic and has no effect on the operations or functioning of the Prepared division. Closing of the transaction is subject to customary conditions such as obtaining soil certificates and other formalities.

The net proceeds will be entirely used to voluntarily repay bank indebtedness. Following this voluntary repayment, Greenyard is working on refinancing its debt over a longer term. In addition to cementing Greenyard’s financial stability for the future, a refinancing will create additional headroom for further growth and the deployment of its strategic plans, including investments in integrated customer relationships and its proximity capability. , but also in targeted mergers and acquisitions, as announced at the most recent Capital Market Days.

In addition to this solid financial stability, and despite the global economic turmoil, Greenyard reconfirms its guidance for the full year for an adjusted EBITDA of c. 165 million euros and a leverage of less than 2.5x Net Debt/Adjusted EBITDA, already communicated in last year’s press release on the annual report for the financial year 2020/2021. Greenyard believes it underlines its strength and agility in these inflationary times through its model of collaboration with the various players in the supply chain.

From more information:
Cedric Pauwels
Greenery
Tel: + 32 15 32 42 00
Email: [email protected]

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