Yorkshire Feedstuffs plans growth after securing bank funding deal

ANIMAL feed manufacturer Yorkshire Feedstuffs is to expand production after agreeing a £3.2m finance package from Santander bank.

The Goole-based business, which has a turnover of £45m and was established in 1996 as an independent producer and trader of animal feed to the pig, poultry and cattle and sheep industry, received the bespoke finance package, including trade finance, from Santander Corporate & Commercial.

Yorkshire Feedstuffs has customers across the UK and processes almost 30,000 tonnes of feed a year and has developed four product lines.

It plans to increase production on its heat treated blends, allowing the business to gain a cost advantage against its competitors and increase margins, while the funding will also assist in the purchase of new premises.

Carlo Urbanowicz and Gina Brown of Yorkshire Feedstuffs, said: “We have succeeded by focusing on business fundamentals such as serving our customers’ needs, investing in technology, managing costs and diversifying our product lines. We believe the business is in an increasingly strong position to meet our growth projections and to reaffirm our reputation as leaders in the animal feed segment in the UK.”

Andy Bowden, relationship director for Santander Corporate & Commercial, said: “We are very pleased to have supported Yorkshire Feedstuffs and its management team. We have been able to build a bespoke solution around their requirements, and I’m very confident this will help the business invest, expand and grow effectively in its selected markets.”

Following its launch, the firm acquired, refurbished and re-built heat treating equipment at the company’s own warehousing and dock site in Goole, which substantially helped support sales and food margins.

Over the last four years, Yorkshire Feedstuffs has continued to invest in new technology and equipment, and last year added a wood burning boiler which has significantly reduced power costs and through this more environmentally friendly approach, enabled the business to claim Renewable Heat Incentive Payments.