A vitamin and supplement company is planning to increase its exporting activity after securing a new funding package worth more than £20 million.
NutraHealth, which is headquartered in Kings Norton and also has a base in Derbyshire, has received a £15 million lending facility from RBS Invoice Finance and additional support from the bank's asset finance arm Lombard.
NutraHealth was founded in 2004 and is one of the largest manufacturers and distributors of vitamins, minerals and supplements in the UK, now employing 350 staff.
It supplies all major chains and independent health food stores as well as selling directly to consumers while its international operations export to more than 70 countries worldwide.
The deal will enable NutraHealth to increase exports and launch new product lines under its four operating companies - BioCare, Natural Wellbeing, Brunel Healthcare Manufacturing and Max Healthcare.
Group finance director James Amery said: "The funding agreed with RBS allows us to implement our long-term strategy by investing in people and securing our position as one of Europe's most innovative, high-quality and dependable providers of pharmaceuticals and vitamin and mineral food supplements.
"It's an exciting time to be manufacturing in the Midlands and exporting British brands and goods, with the business looking to maximise the impact of our new world-class packing facility and expand with new international blue-chip customers."
Matt Broomfield, corporate development manager for RBS Invoice Finance, added: "We are delighted to support NutraHealth through an exciting period of growth, which will generate employment and further cement the company's strong position in the vitamins, minerals and supplements market.
"The management team and employees' passion for being the best for their customers is evident in everything they do and underpins a well thought out strategy."
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