Eight-figure funding package for consumer goods company
A family-owned consumer goods company in Stoke-on-Trent has expanded operations with funding from HSBC.
RKW, the trading division of Sutton Venture Group has received an eight-figure funding package from HSBC to facilitate international and national growth.
The company designs, manufactures and distributes small domestic appliances and housewares for brands that include Lavazza, Smeg, Russell Hobbs and Breville from its distribution centre in Staffordshire.
The deal with HSBC UK will bolster staff with a further 80 employees and transform the operations of its 1,000,000 sq ft. warehouse into a 24/7 working site.
Employing more than 500 staff through its offices in the UK, Hong Kong, India and China, products are sold to leading UK retailers such as Next, Amazon, Tesco, Currys and Argos, with international customers being supplied directly from the Chinese offices.
Rob Sutton, Chairman at Sutton Venture Group, said: “In addition to creating 80 new jobs and developing our new 24/7 warehouse facility in Stone, we’ve seen our roadmap of innovation and new product development accelerate as we’ve adapted new business solutions.
“Further investments and entering new, exciting product sectors are what’s next on the horizon.”
Josh Garrigan, relationship director at HSBC UK, said: “Despite the volatility of the business landscape over the last 20 months, Sutton Venture Group has seen huge growth. Having rapidly adapted to major shifts in the retail sphere from both a consumer and supplier perspective, we’re delighted to have supported the expansion of operations and workforce at the business.”
