Macclesfield based Tutto Bene World has secured a £50,000 investment from NPIF – BFS & MSIF Microfinance – a product fund managed by GC Business Finance in partnership with MSIF and part of the Northern Powerhouse Investment Fund (NPIF).
The investment will be used to fund the launch of a new range of healthy children’s food.
Owned by Director Mike Williams, Tutto Bene World has created a brand new range of healthy Italian food and drink products designed specifically for toddlers and young children. The business will use the investment to create four new jobs in the first year of trading and to help fund product set-up, equipment and printing, food and drinks analysis and marketing costs.
The Tutto Bene brand has been designed to fill a gap in the children’s snack market for healthy Mediterranean inspired products and has already secured distribution with Ocado. A number of product lines are already in production including three flavours of organic mini grissini, Parmesan bites, Parmesan flakes and a range of Let’s Make It products, to get young children and families involved in cooking and preparing meals.
Tutto Bene Director Mike Williams said: “Tutto Bene means ‘all good’ and that’s just what our new range is, with all our products sourced and manufactured in Italy using the best ingredients. Having established our brand and core range, we came to GC Business Finance at a crucial point in the development of the business. The NPIF funding we secured as a result enabled us to develop and get the range out to distributors quickly, something that has already paid dividends with Ocado coming on board to support us very quickly.
“We know that on average, Italians live around 18 months longer than their British counterparts; the Italian diet being thought to be one of the main reasons for this. With that in mind and knowing just how critical early years health is, our range is designed to help parents and carers to encourage their children to eat a healthier diet by giving them tasty, easy, nutritious and natural Italian products.”
Andy Nicholls, Senior Loan Manager at GCBF, said: “Mike has worked in the food industry for many years and becoming a parent inspired him to try to bring something different and better to the marketplace. Food authenticity and provenance have never been more important to consumers so we were proud to be able to support Mike and his team with the £50k funding he needed to get the Tutto Bene brand up and running.”
Tutto Bene World was referred to GC Business Finance by The Skills & Growth Company in Cheshire East.
Cllr George Hayes, Chairman of The Skills & Growth Company said: We have worked with Mike and his team since 2016 from the launch of Tutto Bene, and are delighted to see the business flourish; we wish them every success and look forward to supporting their further growth as a welcome addition to the Cheshire East economy”
Philip Cox, Chief Executive of the Cheshire and Warrington Local Enterprise Partnership, said: “This is great news for Tutto Bene and we look forward to their continued growth and development. We are pleased to see that our investment in the Northern Powerhouse Investment Fund is making a tangible difference to businesses, as demonstrated by this new product within our food and drink sector in Cheshire and Warrington creating new jobs.”
Sue Barnard, Senior Manager at British Business Bank, said: “Food production in the North West continues to go from strength to strength with a number of international companies choosing to locate their headquarters here. We are really pleased to be supporting Tutto Bene as it looks to fill the gap in the children’s snack market with its fine Italian products.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The MSIF group of funds are managed by Alliance Fund Managers Limited which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.