£1.5m funding deal takes the biscuit

A TAMESIDE biscuit manufacture that can trace its roots back to the 1850s has secured an additional £1.5m funding package from Greater Manchester Investment Fund (GMIF), creating a further 50 jobs.

Hill Biscuits, which makes branded and own label products for a range of retailers, wholesalers and food service customers has ambitious expansion plans and will invest the funds in new machinery to boost capacity at its Ashton under Lyne bakery.

The company has seen annual sales soar – driven by strong demand for its biscuits from various sectors in the market – in the last year.

Hill Biscuits said the new machinery will significantly boost production and enable it to meet growing client demand.

The £1.5m package is the second round of investment Hill Biscuits has secured from GMIF. In 2013, GMIF, which is supported by the Government’s Regional Growth Fund, provided a £276,000 loan to develop a new packaging facility.

That project has already created 59 jobs and the company anticipates the new investment will create around 50 further positions at the site, bringing the total workforce to more than 300.

Hill Biscuits managing director Steven Wetherby said: “This will help us to keep pace with current demand for our products and also to support our future plans for further development of the business in a very competitive market.”

Richard Cowan, senior associate at Pannone Corporate, advised GMIF. He said: “Hill Biscuits is an entrepreneurial company with a strong management team which is increasing market share. We are delighted to advise GMIF on its latest investment which provides Hill Biscuits with a strong platform to achieve its ambitious growth plans.”

Tameside Council’s executive leader Kieran Quinn said: “Hill Biscuits are part of Tameside’s industrial heritage.

“The company is dear to the hearts of many Tamesiders as we associate the area around their factory with the fantastic smell of baking biscuits.

“The Council has been working closely with the management team and the GMCA to help secure this funding which allows the company to increase local employment and invest in the future and I am delighted that it helps secure future investment in the site.”