Located in Tasmania, this business supplies a variety of animal feeds and pet products across Australia and New Zealand to many specialised retail outlets and local supermarkets.
Their range of animal feeds are all manufactured in Australia, using local ingredients wherever possible, always of the finest quality. The stock feeds are a staple of many farms in Tasmania and indeed the rest of Australia. They also sell a range of seeds and grains for various birds and rodents. Manufacturing for a host of sub-brands, the company is also the exclusive Australian supplier of many well-known products.
The business was being financed through a bank as a single source of funding, making their situation volatile while reducing their flexibility and long-term growth potential.
The business directors were introduced to Octet through their finance broker as a strategy of funding syndication and spreading the company’s cashflow avenues.
The company was provided with a $1.6m trade finance line through Octet’s Business Transaction Facility. The facility was able to be structured with a 2nd ranked security position, ensuring the companies existing bank facilities and relationship remain unaffected, which was a key criteria of implementation.
Octet’s $1.6m trade finance solution will assist with paying key overseas suppliers with competitive FX whilst allowing the company up to 120 day repayment terms. The company is now well positioned to take advantage of significant revenue growth opportunities in a well-established sector of the Australian economy.