Dairy products supplier seals funding deal

CHESHIRE company County Milk Products, a leading supplier to the food manufacturing sector has secured £4m in new funding to support its growth.

The Wilmslow-based company, which has seen turnover surge more than 50% to £116m over then last three years, has agreed the working capital facility with NatWest commercial banking, its existing funder.

Rising demand for the company’s  products such as cream, whey concentrate and whole milk is behind the company’s recent growth spurt.

County Milk Products, which was set up in 1994, sources  products from creameries and dairy producers throughout Europe before to supplying its customers.  More than 20% of sales are generated from export markets.

It supplies both powders and liquid products. Powders include milk, whey and cream powders, cheese, butter and lactose, which are used to produce nutritional products, bakery goods, convenience foods, desserts and confectionery products. 

The liquids range includes cream, yoghurt, sweetened  condensed milk, whole and skimmed milk and whey concentrate.

Sales in this part of the business have benefited following a shift in the market, which has seen food manufacturers looking to buy dairy ingredients from a single supplier rather than many. 

Managing director John Langslow, said: “The dynamics of the market have shifted in recent years as both new and existing customers are increasingly looking for a complete dairy solutions supplier when sourcing products.

“We have repositioned the business to meet the needs of our customer base and are confident of further sales growth.  As our turnover continues to grow is essential to have access to a flexible working capital facility to ensure we have the funding in place to keep pace with the demand.”

Tim Hine, relationship director at NatWest, said: “County Milk Products benefits from a strong management team who have a clear strategy on how they wish to develop the business.  They have been a NatWest customer since inception and we look forward to watching the company’s continued progress.”