Jobs on the way as Melton bag supplier lands multimillion-pound funding deal
The UK’s largest supplier and printer of eco-friendly, multi-use promotional bags has secured a multi-million pound funding package from Barclays.
Leicestershire-based Direct Trade Bags was established in 2008, and is based on the Crown Business Park in Old Dalby, Melton Mowbray. The company, which recently acquired specialist t-shirt and garment decorating business Direct Textile Designs, also operates from sites in Lincoln and Barnsley. The firm says it is on track to achieve £13m turnover this year – up from £3m since 2013.
The company specialises in the decoration of t-shirts, garments and promotional bags using multiple decoration techniques from screen, transfer, digital and embroidery on a wholesale basis. It currently produces over one million bags and 300,000 t-shirts per month.
The funding has helped the business to carry out the recent Direct Textiles acquisition and has also provided the working capital support to help deliver its growth plans. Direct Trade Bags has also recently built a new embroidery and storage unit at the Old Dalby site, increasing the total size of the group premises to more than 70,000 sq ft.
The company currently employs 160 people – a figure which is set to increase with the expansion of the business.
Chairman of Direct Trade Bags Group, Greg Towne said: “Having identified a niche in the market for UK based production and service and to support the need for high capacity, quick delivery printing of promotional items such as t-shirts and bags, we have set up a business that has gone from strength to strength, and has achieved year on year growth as well as creating lots of job opportunities for local people. The support of Barclays as a trusted advisor to the business has ensured that we have achieved sustainable growth which holds the business in good stead for future growth.
Ashley Hallam, relationship director at Barclays commented: “Direct Trade Bags have enjoyed tremendous growth since their inception in 2008. I am delighted we are able to support Greg and his team in the latest phase of their development.”
