Interpath advised the firm on raising bespoke term debt and revolving asset finance facilities from Barings and Leumi ABL.
The new financing will help the business stabilise after its Dudley facility was destroyed by a fire in September 2023. The West Midlands bakery was one of its eight UK production sites and has led to the firm altering its operations across its other locations.
Founded in 2008, DWB manufactures artisan breads, ready meals and sweet and savoury pastry products, and supplies a range of UK supermarkets and high street food retailers.
The refinancing process was led by Interpath managing director Chris Hall and Tom Swiers, the firm’s head of food and drink in the UK.
Commenting on the financing process, DWB chair and CEO David Wood said: “Since the catastrophic fire at Dudley, we have been working tirelessly to preserve and recover our business. We have been genuinely humbled by the fantastic help, support and kindness given to us from all our employees, customers, suppliers, and wider stakeholders of the business.
“The fantastic teamwork we have experienced from everyone involved has enabled us to make amazing progress in returning the business back to normality quickly. Our advisers at Interpath have guided us through this process as we sought solutions that would support us in our recovery, and also enable us to look forward with confidence to continue with our growth ambitions.”
Meanwhile, Swiers said that there is no greater destabilising event than a factory fire.
“The team at DWB’s ability to stabilise production with customer needs protected alongside achieving this refinance is testament to a quality team and business,” Swiers continued.
“UK food and drink producers have faced significant volatility in recent years, but their resilience is testament to the incredible people behind them in the board room, in the back office and on the factory floor.”
In other news, Whyte & Mackay workers at three distilleries are voting on strike action, GMB Scotland has announced.
