Blackburn-based BBF (Bright Blue Foods Ltd), who manufacture own label, licensed and branded ambient cakes and desserts, has announced a new £40m financing facility with Wells Fargo Capital Finance (WFCF) to support future growth plans.
BBF serves some of the UK’s most recognisable food retailers such as Tesco, Sainsburys, Asda, M&S, Aldi and Lidl. With manufacturing facilities in Blackburn, Bradford and Poland, BBF last year complemented the Group’s facilities with the acquisition of Greencore PLC’s ambient cake and chilled desserts division headquartered from a large, modern bakery in Hull.
As a result of the acquisition, annual Group revenues have risen to over £150m, with over 2,000 people employed over the five sites.
BBF CEO Jonathan Lill, commented: “The facility provided by Wells Fargo gives the business extra firepower to make further investment in all of our manufacturing sites and to deliver on our strategic growth plans. Wells demonstrated great appetite throughout the process to support the business and we’re excited to have secured this new funding facility.”