A Bolton-based bakery, which supplies supermarkets across the UK, has secured a six-figure funding package with HSBC UK to acquire new production line equipment.
Franco’s Bakery has invested in eight Farhat Food Equipment machines with support from HSBC UK to boost its product range. The new equipment means that Franco’s wholesale customers will now be able to purchase new granary breads, pitta breads and wraps, as well as other existing products within the bakery’s portfolio.
As a result, Franco’s is set to realize its strategic growth plans, having also won multiple large contracts to supply major UK supermarkets.
Over the next 12 months, the business expects to see a 60% increase in turnover, amounting to an additional £1.5 million, as a result of servicing new contracts with the HSBC UK funded equipment. In addition, Franco’s plans to create 15 new jobs on site in Bolton.
The deal follows the business’s recent expansion of its premises to a 20,000 sq. ft. facility, a 60% increase from the original site.
Dilaver Valli, Managing Director of Franco’s Bakery, said: “Securing this funding from HSBC UK is a real milestone for the business. It allows us to build on our growth plans with firm financial foundations and the new equipment means we can expand our product range with delicious new bakery items.”
Andrew Holgate, business banking relationship manager at HSBC UK, added: “Franco’s Bakery is a well-established and respected business within its sector and has been an HSBC UK customer for 18 years. We’re delighted to be able to support a business that has demonstrated resilience throughout the pandemic and we look forward to helping the bakery continue to grow.”
Franco’s Bakery, established in 2003, began by supplying bread products to local restaurants and takeaways in the Northwest. The business has since grown to employ 30 people, creating up to 10 different products for major supermarket chains across the UK.