Sweeter future for mintcake firm after receiving £500,000 specialist funding (From The Westmorland Gazette)
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Sweeter future for mintcake firm after receiving £500,000 specialist funding
KENDAL mint cake manufacturer J E Wilson received £500,000 of specialist funding so the firm could move to its new Elmsfield Park factory near Holme, it has been revealed.
The company, which trades as Wilson's of Kendal, received the loan package from North West Fund for Loans Plus, managed by FW Capital, and HSBC.
HSBC's Lancashire and Cumbria commercial team has provided half of the cash to enable Wilson's to relocate to the new 36,000 sq ft factory.
An additional £250,000 from the North West Fund enabled the company to fit out and equip the new factory. “This included the installation of four new production lines.
Managing director Andrew Wilson said: “My great grandfather started the company in 1913 and we still make traditional Kendal mint cake to the same recipe today. “Over the years we've diversified into other types of confectionery and today it accounts for a small part of our business.
“I'm committed to growing our business from our base in Cumbria and we’ve used this funding package to ramp up our production capacity. “We can now significantly increase the range of lines we supply."
FW Capital investment executive Andy Traynor, who completed the investment, said: “Wilson's is a long-established business with a portfolio of well-known brands whose sales and profits have risen year on year over the last five years. It has many loyal customers who value the flexible and tailored service it provides.
“This package of loans has provided the company with the capital it needs to put this latest phase of its ambitious expansion plan into action. As part of this plan Wilson’s has also strengthened its management team recently and undertaken a company-wide efficiency drive.”
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