Luxury toiletries business freshens up with £850k funding
Bibby Financial Services (BFS), has provided an £850,000 funding facility which includes invoice discounting and trade finance to H Bronnley and Co UK Ltd, a luxury soap and fragrance business which exports to partners worldwide.
H Bronnley & Co supply a range of high-quality soaps and fragrances, with a rich heritage dating back to 1884. Its reputation for luxurious and innovative products led to the business being awarded a Royal Warrant by King George VI, a warrant that it still proudly holds today.
The Bronnley brand operates within the large and robust health and beauty market, with the soap category particularly benefiting from recent changes in consumer behaviour around the world. The brand is sold in pharmacies, beauty stores and garden centres and has an ambitious plan to develop its position with an exciting new product development programme and an expansion of its user base.
BFS was recommended to H Bronnley & Co by Mike Hickman of Practical Business Solutions, who identified BFS as an ideal partner for the business. The funding facility structured by BFS’s corporate team includes trade finance support, which will help bridge the cashflow gap between buying from suppliers and receiving payment from customers. The funding will also allow the business to generate increased revenues from the UK and overseas to satisfy the increased demand for soap and hand wash.
Jon Osborne, director, H Bronnley & Co Ltd, commented:
“As a business with a heritage going back over 135 years, we wanted to partner with a funder that would take the time to get to know our business and understand our ethos.
“We have been impressed with the expertise and attention to detail BFS has shown to our business, and the funding they have provided is equipped to help us implement our global business strategy while preserving our cashflow. “
Luke Fitzsimmons, corporate manager, Bibby Financial Services, said:
“Upon being introduced to Mike and the team, we took the time to understand the company’s business model to allow us to identify where they required support. H Bronnley & Co is a great business but with a sizeable supply chain, and with so many international clients, it can be difficult to manage cash flow while also looking to grow and thrive. Trade finance allows a business to focus on the long-term.
“Despite these challenging times, BFS remains very much open for business and is committed to supporting SMEs. We are very happy to be supporting H Bronnley & Co on the next stage of their growth.”