Ipswich-based Prettys advises food retailer Itsu on funding deal
PUBLISHED: 06:00 02 December 2015
East Anglian law firm Prettys has advised Asian-inspired food retailer Itsu on a refinancing package to support international expansion.
Itsu, which has more than 50 shops across London and the South, has agreed a £40million funding package with HSBC to expand the business in line with a growing consumer focus on healthy foods, both in the UK and new markets overseas.
Prettys, which has offices in Ipswich and Chelmsford, provided legal advice to Itsu in relation to the financing package that will support the three-year expansion plan.
Ian Waine, head of corporate services at Prettys, said: “We are delighted to once again work with Itsu and facilitate their ambitious growth plans and support the company to deliver their business plan here and internationally over the next three years.”
Landen Prescott Brann, chief financial officer at Itsu, added: “We have worked with Prettys for over 15 years and we are always confident that they will provide us with the support we need to help realise and deliver our business plans.
“We have seen interest grow from our customers wanting healthy fast food and with the completion of this refinancing package we can take the first step on expanding Itsu both here and in new international markets.”