Soup maker Baxters in debt talks with lenders - report
British soup maker Baxters Food Group is reportedly attempting to thrash out a deal with lenders ahead of a debt refinancing in the summer.
Bloomberg cited people familiar with the matter as saying that the company, which has been owned by the same family for more than 150 years, has hired advisers from restructuring firm Teneo to negotiate with banks including HSBC.
It was understood that Baxters’ lenders, including HSBC, are being advised by FTI Consulting Inc.
Founded in 1868, Baxters produces tinned soups and chutneys sold in supermarkets across the UK.
A spokeswomen for the company told Bloomberg: "We regularly review our advisers and suppliers across all areas of the business including our financial partners and advisers. In this case in relation to our planned routine refinancing."
Representatives for FTI, Teneo and HSBC declined to comment.