A £17.7 million North Yorkshire food manufacture has secured a £500,000 investment to bolster production and seed growth during the coronavirus crisis.
Richmond-based Holmesterne Farm is a leading food manufacturer with a focus on supplying the finest food products to customers in the retail, manufacturing and food service industries.
The firm has a strong relationship with major national supermarkets and recently won a large opportunity to manufacture sausages for Asda due to an increase in demand during the COVID-19 crisis.
The investment from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund will be used to increase production capacity and enable growth through a targeted strategy focused on food service. The activity has already created five new jobs.
It will also pay for the installation of a new £220,000 tray line and additional resources in sales and new product development, staff training and improved processes and controls.
Keith Charlton, Senior Investment Executive at FW Capital completed the investment together with FW Capital’s Investment Executive Alex Gent.
“Holmesterne is a long-established company with ambitious plans for the future. The funding has enabled the business to scale-up through increased production and investment in staff and infrastructure, while creating new jobs and safeguarding many more,” he said.