A food company, which specialises in delivering frozen ready meals to homes throughout the UK, has bought a depot in Doncaster after securing a five-figure funding package.
Rajan Panesar, operations director at Wiltshire Farm Foods
The purchase by Wiltshire Farm Foods has led to the creation of additional local jobs including delivery drivers, warehouse workers and office staff.
The financing from HSBC consists of an acquisition loan, which has enabled Trowbridge-based Wiltshire Farm Foods to strengthen its presence in Yorkshire.
In addition, the business expects the depot to boost its overall productivity and increase annual revenue by 15% in the depot’s first year of operation.
Rajan Panesar, operations director at Wiltshire Farm Foods, said: “Acquiring depots in towns and cities across the UK is a critical part of our business growth strategy. HSBC has actively supported us in the acquisition of the Doncaster depot, which was essential to our business in Yorkshire. The new depot will enable us to deliver to a larger volume of customers and provide a much more regular service. With their guidance and funding, we have been able to not only grow the business, but also benefit the local area by recruiting Doncaster-based staff to manage and run the depot.”
The business currently provides 150,000 deliveries every year to Yorkshire residents. Over the next three years, it is looking to increase this amount to 250,000 deliveries.
Andrew Bennett, HSBC’s area director for business banking in West Yorkshire, said: “Wiltshire Farm Foods is an ambitious company with an innovative business model and we are proud to support its growth in the Yorkshire region. As frozen ready meals rise in popularity, the frozen food industry is rapidly growing in Yorkshire and beyond. Wiltshire Farm Foods is successfully navigating a profitable sector, creating employment opportunities in the process.”