Wrights Food Group set to take off after £7 million investment

 Read time: 5 mins      Added: Date: 24-02-2020

Share:   LinkedIn     Twitter     Facebook     Share via email     Copy link to clipboardLink copied to clipboard

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.

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."

Manufacturing

Find out how we are supporting Manufacturing businesses

Manufacturing

Important legal information

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Please note that any data sent via e-mail is not secure and may be read by others.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

Lloyds Banking Group includes companies using brands including Lloyds Bank, Halifax and Bank of Scotland and their associated companies. More information on Lloyds Banking Group can be found at www.lloydsbankinggroup.com

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.