Positive finance news for chicken wholesaler
SOLIHULL’S Summer Poultry Products has secured a £475,000 finance facility from Birmingham-based invoice finance specialist Positive Cashflow Finance.
The family owned business based in Solihull dates back to 1967 and was originally established by John Summers senior before his son John Summers was appointed managing director in 2005.
It supplies halal chicken products to a number of food manufacturers, restaurants and food outlets throughout the UK.
More recently it has started supplying into other European countries.
The business achieved sales of £12m last year and expects to achieve sales of £14m in 2015 after securing a number of high value contracts.
John Summers said: “After a successful 12 months, we wanted to increase our working capital to support our growth plans as we are keen to supply more businesses throughout the UK and Europe.”
Paul Varley, regional sales director at Positive, said: “Summers has a long history and we are looking forward to supporting this local business with a secure funding solution that will allow John and the rest of the team to focus on expanding the business.”
Nathan Goldby of KSA Associates advised on the deal and David Gledhill of Bermans provided the legal advice.
