A Sunderland food firm is looking to expand on the back of a £7m finance deal.
Moguntia Food Group, which sells seasoning and spices across Europe, sealed the multimillion-pound invoice finance package with NatWest, which it aimed to use to ramp up its UK operations.
The Hetton-Le-Hole family firm, which has 125 staff, was founded in Mainz, Germany, in 1903 and now manufactures and sells seasonings, spices and a range of free-from savoury products to the food industry in 29 different countries. Moguntia directors said the package gives the firm the flexibility to take advantage of opportunities for strategic acquisitions, as well as the ability to react to changes in the market or increases in customer demand.
