An Oldham-based bakery has secured an eight-figure funding package from HSBC UK to support market expansion plans.
Park Cakes, which operates two cake and hot dessert manufacturing sites in Greater Manchester, is best known for its production of the M&S Colin the Caterpillar range, but produces a wide range of baked goods for UK and international retailers.
The business is now using HSBC UK funding to enhance its manufacturing capabilities.
Paul Morton, chief financial officer for Park Cakes, said: “In HSBC UK, we have found a banking partner that understands our business and how we are looking to grow further. We look forward to what the future brings in this collaboration.”
Dean Smith, global relationship director, HSBC UK, said: “Park Cakes has been able to combine the right structures and processes to deliver impressive year-on-year growth.
“This is a business with best practice at its core, evidenced by its rise to the top of the industry.”
He added: “Following this expansion, we’re excited to see how Park Cakes utilises funding to continue growing across the sector.”
Park Cakes has been in operation for more than 80 years, with 2,000 staff currently supplying in excess of 130 million cakes to customers every year.
This HSBC UK deal was supported by Allan Wilkinson, HSBC UK head of Agri-Foods.
