Bakery business secures £600,000 investment to expand operations

Hughes Bakers is set to expand its workforce after securing a £600,000 loan from NPIF – FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund (NPIF).

Founded over 90 years ago, the Shipley-based business is owned and run by Ian Connell, John Cummings and Colin Davies.

Last month, Hughes Bakers merged with Asa Nicholson of Bradford as part of its expansion plans. A rebrand is expected to follow later this Autumn.

The company is using the six-figure investment to increase on-site capacity, simplify its product range in line with current consumer trends and work towards achieving British Retail Consortium (BRC) accreditation.

Twelve jobs will also be created to supplement the existing team of 73.

Colin Davies, finance director at Hughes Bakers, said: “Hughes is an established bakery in Yorkshire working with ASDA Walmart and Co-op as well as a large number of smaller, independent retailers.

“Our plans now involve increasing our capacity for commercial volumes so we can service the larger retailers and we are already talking to the big supermarket chains about achieving listings. We also intend to innovate within our product development so we can be more artisan in what we do.”

Keith Charlton, senior investment executive at FW Capital, added: “Hughes Bakers has a solid reputation and an experienced and committed management team who have a clear vision for the company’s expansion.

“The directors have identified clear growth opportunities and are already putting in place the elements needed to make these happen. This is an excellent example of how NPIF investment can help ambitious businesses move forward and scale.”

Grant Peggie, director at British Business Bank, said: “The Northern Powerhouse Investment Fund is pleased to support a great Yorkshire-based business in Hughes Bakers. This new line of funding will help the business reach new heights, as it looks to grow its workforce and secure new contracts with more of the UK’s leading retailers.”

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