Wrights Food Group set to take off after £7 million investment
One of the UK's leading food manufacturers, Wrights Food Group, has completed a one-year, £7 million investment programme at its Crewe manufacturing sites.
Read time: 5 mins Added: 24/02/2020
The investment includes a new savoury production line, ovens and cold storage facilities at the £60 million turnover business, which was shortlisted in the Mid-market Business of the Year category at the 2019 Lloyds Bank National Business Awards.
In addition, the manufacturer, which makes more than 3.5 million savoury products a week – including a new vegan range – has secured its first strategic partnership with a specialist airline catering supplier, marking entry into a brand-new market for the firm.
Investment and credit facility
Lloyds Bank has supported Wrights – which supplies pies and other savoury food products to more than a third of clubs in the English Football League – with a new £3 million revolving credit facility to support the investment.
The investment comes at a time of significant growth for the family-run firm, which was founded in 1926. Wrights has grown its workforce by 10 per cent to 650 people in the last year, thanks in part to the success of its Urban Bistro division, which supplies fresh food for vending machines in offices, factories and venues across the UK. Wrights expects to double the size of its offer to more than 600 locations in the next year.
"This investment in new equipment gives us the capacity to boost growth and make our entire operation more efficient at an important moment in our long history."
Peter Wright, chairman and chief executive of Wrights Food Group
Peter goes on to say that: "It is critical that we are able to stand out from our competitors and this new funding will help diversify our offer as the first UK vending company to manufacture and supply fresh food on a daily basis. We'll also be in a position to improve the sustainability of our packaging – introducing more and more recyclable materials into our processes.”
Jason Gregory, relationship manager at Lloyds Bank Commercial Banking, said: "Wrights Foods Group is a North West institution, but the business has always moved with the times to react to changing tastes and opportunities. For firms like Wrights to realise their growth ambitions, it's critical that they have flexible funding to invest both now and in the future."
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