A Goole-based manufacturer and wholesaler of high quality animal feeds is set to expand production output and continue its growth strategy after receiving a bespoke £3.2 million finance package, including trade finance, from Santander Corporate & Commercial.
Yorkshire Feedstuffs was established in 1996 as an independent producer and trader of animal feed to the pig, poultry and ruminant industry in Yorkshire and Lincolnshire.
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.
Now trading nationally, the company’s annual turnover has grown to £45m. The business is processing nearly 30,000 tonnes per annum 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, 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.”