RBS continues support for Maviga in 2015
Kent based Maviga is a leading international player in the origination, processing and trade of dried edible pulses and other special crops, including sesame seed. Maviga sources produce from over thirty countries and ships to over eighty markets around the world – RBS has increased its revolving credit facility from $20 million (USD) to $27.5 million to provide even greater flexibility to this successful business. The total amount of facilities provided by RBS is $40 million.
Maviga was founded in 1994 by company chairman and majority shareholder Marcus Coles and now sources over 100 different pulse varieties from growers across the globe. Today the business has offices and processing operations in thirteen countries. Last year, Maviga received its third Queens Award for Enterprise in International Trade.
Roy Bawden, Director, UK Sector Coverage at RBS comments, “This additional lending will provide Maviga with the flexibility to capitalise on the opportunities in their sector driven by population growth, the rising costs of livestock farming and growing recognition of the health benefits of a diet high in fibre and leguminous protein.”
“It was only natural we provide further support to Maviga in what is our 21st year of working with them. RBS is delighted to have been part of the success story that is Maviga since 1994 – witnessing the business accelerate from inception and double in size every five years. When you work with a business for this length of time, you develop a deep understanding of the customer’s industry, business model and strategy.”
Marcus Coles adds, “RBS has been with Maviga from our very first days running the business from an attic in Maidstone. We feel the business has benefitted from this long-term relationship and their continued support. It hasn’t always been plain sailing but the best relationships are often forged through overcoming challenges together and I look forward to our future together. We know there are many opportunities ahead, particularly in Africa which we see as a continent of great opportunity.
“Maviga is also involved with the evolution of pulses as a food ingredient and not just a foodstuff. As more food manufacturers see the nutritional profile of their products improve using pulse ingredients, we anticipate a significant revival of demand in developed markets. Our future is bright – our future is beans!”