Future-proof financing for Hoogvliet

At the beginning of 2024, Hoogvliet began preparations for a refinancing process in collaboration with Orchard Finance. The existing financing facilities were set to expire in the first quarter of 2025, making it an ideal time to reassess strategic direction and future growth ambitions. Orchard was invited to advise on a new financing structure, offering more flexibility, headroom and long-term resilience.

This was not the first time the two parties had worked together. Orchard had previously supported Hoogvliet with a financing project in 2018, and also works with Hoogvliet Beheer, the company’s real estate entity.

Hoogvliet has long been a familiar name in the Dutch supermarket sector. With nearly 80 stores, a modern distribution centre in Bleiswijk, and a strong focus on quality and customer experience, the family-run business holds a solid market position. To remain competitive and continue innovating, Hoogvliet invests in logistics, technology and the in-store experience.

From analysis to closing

Orchard supported Hoogvliet throughout the entire refinancing journey. The process began with a strategic analysis of the existing financing structure, investment plans and cash flows. Based on this, a future-oriented financial model was developed.

This model became the foundation for further decision-making. We advised on the optimal financing structure, restructured existing facilities, and managed the process with banks from initial discussions through to closing on the new financing.

In addition to this project, Orchard also supports Hoogvliet with other financial topics, such as determining the cost of capital (WACC) and providing advice on interest rate hedging. It is valuable to support Hoogvliet across a range of topics and act as a strategic sounding board.

Ready for growth

“This refinancing puts us in a strong position for the future,” says Claudia Veenendaal, Team Lead Treasury at Hoogvliet. “We now have the financial flexibility and headroom to realise our strategic plans. That’s not just about short-term growth, but about building a sustainable and resilient structure. Orchard played a key role in making that happen.”

A flexible model

Fred van Heyningen, Group Director of Watertoren-Hazerswoude B.V. (sole shareholder of Hoogvliet), highlights the added value of the financial model:

“What stood out for me was how we built a model with Orchard that goes beyond this specific refinancing. It’s not a static document but a tool we can continue using. By adjusting parameters, we can calculate scenarios and steer our long-term ambitions in a targeted way. That provides direction.”

External expertise at the right time

Alex Grootveld, interim CFO at Hoogvliet, underlines the importance of external expertise in processes like this: “We have a strong finance team, but Orchard added that extra layer of knowledge. Their expertise came in at exactly the right moments. They combine sharp insights with a hands-on approach, which helped us make better decisions and go through the process with confidence.”

The Hoogvliet team found the collaboration distinctive. Fred explains:
“Orchard is truly a financing boutique. You notice that in the process, in the depth of their advice, and in their market knowledge. They know the banks, understand what is and isn’t possible, and move quickly and decisively. That’s not a luxury, it’s essential in a process like this.”

Claudia adds:“What I personally appreciated was the way of working. Quick responses, direct contact, always accessible. They are professionals who know their business and are also just very pleasant to work with. Clear communication, no fuss.”