Forthglade Foods Ltd has secured £5 million in Growth Capital funding from Santander Corporate and Commercial.
The company hopes to further support its UK and overseas expansion plans as well as the development of a larger manufacturing facility.
The business, which currently employs 80 people, is set to create a further 25 jobs when it completes the move to
the new state of the art facility at Okehampton East Business Park in Devon.
Gerard Lovell, managing director – Forthglade Foods Ltd, said: “We are delighted to work with Santander Growth Capital in the next stage of our business’ development. Their support will enable us to build a state of the art production facility in Okehampton and invest in the local economy while accelerating our strategy for growth.
“The Santander team has been very proactive in developing a relationship with us since we first met them in 2013 and their continued engagement and interest in the business gave us the confidence that they are the right partner for us.”
Carmen Peacock, Santander Growth Capital, said: “Forthglade is a fantastic business with a leading product offering and a very experienced management team backed by Piper Private Equity.
“We are delighted to support them in their business expansion plans with the development of a new manufacturing facility in Devon as well as investment in continued UK and international growth opportunities for their own brand products. We look forward to working with the business and seeing it grow from strength to strength.”