Supporting growth ambitions of top vegetable grower

Corporate News -

The Netherland’s leading leaf vegetable cultivator, Van Dijck Groenteproducties (VDG) is best known as the main supplier to supermarket chain Lidl, delivering award-winning local produce for five years running. The company runs 1,000 hectares of agricultural fields and five hectares of greenhouses, and operates its own washing, sorting, packaging and transportation facilities. Since 2015, VDG has turned to NIBC among other banks to help it finance new greenhouses to meet growing demand.

The assignment

NIBC supported and refinanced VDG in late 2015 for the construction of high-tech greenhouses for the cultivation of leaf vegetables across five hectares. The greenhouse was financed with a combination of mezzanine financing provided by NIBC, and a senior facility offered jointly by NIBC and another bank. In 2016, NIBC provided an additional senior facility for VDG to expand its greenhouse by 3.5 hectares, one year ahead of its original growth plan.

Adding value

We are supporting the rapid acceleration of VDG’s growth ambitions, and enabling it to meet its long-term supply agreement with main customer Lidl.

Delivering results

The new greenhouse became fully operational in early 2016 and was completed on time and within budget. The greenhouse is performing well due to increased demand for high quality leaf vegetables produced locally and year-round, ensuring complete traceability, which is becoming increasingly important for supermarkets.

"NIBC fully understood our needs and ambitions and acted very fast and professionally." - Peter van Dijck, Director of Van Dijck Groenteproducties.

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