One of the UK’s fastest growing poultry specialists has rolled out an expansion plan and increased its workforce after securing new facilities from Yorkshire Bank.
Bankwood Meats is a specialist in quality cooked turkey products with 100 per cent meat content.
Product lines include roast turkey breast, turkey on the bone, as well as vacuum packed and gas flushed sliced meat packages.
The company has secured £530,000 working capital facilities from Yorkshire Bank’s Business and Private Banking Centre in Doncaster.
A new customer the funding will support the investment in the business and the recruitment of further staff to drive growth and enhance services to existing clients.
The deal was arranged by, Richard Boor, relationship manager, and Sharon Mapplebeck, from the invoice finance team at Yorkshire Bank’s Business and Private Banking Centre in Doncaster.
John Hearsey, director at Bankwood Meats, said:
“This significant financial commitment will help us to extend our reach in a sector we have been established in for the last decade.
“By investing in our business and new staff we will be able to expand our client base while providing existing customers with an enhanced service.
“This would not have been possible without the support of the Yorkshire Bank which has worked closely with our team to help us realise our ambitions.”
Bankwood Meats currently has annual turnover of around £2.6m and plans to double this to £5m in the next five years.
“The planned increase in capacity could create up to 15 new jobs.
Kevin Elliott, head of Yorkshire Bank’s Business and Private Banking Centre in Doncaster, said:
“The success of Bankwood Meats is testament to the experience, drive and expertise shown by the management team, and represents all that is good about the entrepreneurial spirit of businesses in South Yorkshire.
“As we begin to see signs of economic recovery, Yorkshire Bank remains focused on investing in the growth ambitions of the local business community.”