Shipley baking business secures £600k NPIF loan

Shipley baking business secures £600k NPIF loan

Shipley’s Hughes Bakers is embarking on impressive expansion plans having secured a £600,000 loan from NPIF – FW Capital Debt Finance.

This follows a recent merger deal with Asa Nicholson of Bradford, with a rebrand expected to follow later this autumn.

The company is using the six-figure investment to increase on-site capacity, simplify its product range in line with current consumer trends and work towards achieving British Retail Consortium (BRC) accreditation.

BRC accreditation is a pre-requisite for large-scale suppliers of the UK’s major supermarkets, which forms part of Hughes Bakers’ growth plan.

Twelve jobs will also be created to supplement the existing team of 73.

Colin Davies, Finance Director at Hughes Bakers, said: “Our plans now involve increasing our capacity for commercial volumes so we can service the larger retailers and we are already talking to the big supermarket chains about achieving listings.

“We also intend to innovate within our product development so we can be more artisan in what we do.”

Keith Charlton, Senior Investment Executive at FW Capital, said: “Hughes Bakers has a solid reputation and an experienced and committed management team who have a clear vision for the company’s expansion.

“The directors have identified clear growth opportunities and are already putting in place the elements needed to make these happen.

“This is an excellent example of how NPIF investment can help ambitious businesses move forward and scale.”