Food retailer Boni realizes debt refinancing
January 1, 2018
Yuno Advisors advised food retail organization Boni with the realization of a refinancing of its entire group debt facilities.
Boni (www.bonisupermarkt.nl) is a Dutch food retail chain, member of the Dutch wholesale purchasing cooperative Superunie, and has around 2,400 employees spread over 43 stores which are predominantly situated in the centre of the Netherlands. The company was founded in 1972 with the opening of a store in Drachten under the motto “cheapest in A-brands”. Since the start the Boni concept showed gradual growth to its current size, and can currently be characterized as a “service discount” organization with slogan “Boni, thuis in voordeel” (“Boni, a household name in discount”). Both the company’s head office and the central distribution center are located in Nijkerk, as well as the own butchery Boni Vers Ambacht, which was founded in 2010. In 2015, Boni Group was co-founder of the fast growing websuper Picnic. Boni also acts as logistics and purchasing partner of Picnic.
Based on the historical growth of the organization as well as its growth targets for the near future, Boni decided to refinance its entire group’s bank debt facilities through a formal debt refinancing process with multiple banks to achieve an optimal financing structure for the coming years. Yuno Advisors’ advisory comprised the drafting of an information memorandum for the banks, financial analysis and capital budgeting, advising on the envisaged debt structuring and the negotiations with the banks.