Secure Trust Bank helps Bradburys Cheese to mature with £8.5m facility
Secure Trust Bank Commercial Finance has provided Bradburys Cheese with an £8.5m asset-based lending facility to increase its working capital, enabling a pipeline of new product ranges and ambitious growth plans with its customer base.
Bradburys Cheese has a long and proud family-owned history, originally founded in 1884 by Reverend William John Bradbury. It was taken over in 1994 by the Paul family which took the business forward by creating a large range of products including extruding flavours, as well as supplying packaging, distributing and marketing cheese products. The family has taken the firm from a £4m turnover business to revenues in excess of £70m and now employs 180 people across the UK, with its main head office in Buxton. Its top selling brands include Bradburys Export Cheese range, Monterey Jack, Truckle Bros and its Cricketer Farm cheese.
The company boasts over 100 clients across the world, from Australia to Hong Kong and is the sole supplier of cheese to the Falkland Islands. It also supplies products to a world leading airline group, which delivers its cheese products passengers on flights across the globe. The company won over 50 awards and four trophies for its products at the 2019 International Cheese Awards.
The £8.5m facility provided by Secure Trust Bank Commercial Finance will be used to fund the company’s work in progress, allowing it to increase its working capital and continue to expand into new markets. In particular, the firm plans to invest in the development of a new range of snacking products to further its growth.
By working with Bradburys Cheese, Secure Trust Bank has continued its work with food manufacturers, following its work with Pensworth Food Service specialists in 2019. The firm offers a full suite of asset-based lending solutions, ranging in size from £1m to £50m, to businesses across the country.
Michelle Jackson Hanstock, managing director of Bradburys Cheese said: “We have big ambitions at Bradburys Cheese and are proud of what we have already achieved as a family-owned business. Our seven-year association with our global airline partner is an important part of our business and we want to continue to evolve in order to attract big clients. Having customers from all over the world, we want to expand on this momentum and push ourselves to create more award-winning products.”
“We have found that Secure Trust Bank were the ideal partners in order to grow our business. Its flexibility has given us the opportunity to look at expansion and enabled the business to position itself as a key player in different markets.”
David Green, regional sales director at Secure Trust Bank Commercial Finance, said: “Bradburys Cheese is a global brand which has a firm family heritage at its core. Its roots are in the local economy of Buxton, providing 150 jobs for the area and with its expansion and innovation plans into new markets we hope that it will aid the economy further. The company has achieved a significant amount in recent years and we’re excited to help achieve further growth.”