BBF Set For Further Growth After Securing New £40 Million Funding
BBF, the UK’s leading manufacturer of own label, licensed and branded ambient cakes and desserts, has secured a new £40 million financing facility with Wells Fargo Capital Finance (WFCF) to support future growth plans. BBF serves all 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’s ambient cake and chilled desserts division headquartered at a large, modern bakery in Hull. As a result of the acquisition, annual group revenues have risen to over £150 million, with over 2,000 people employed over the five sites.
BBF has been owned by the leading transformational private equity investor, Endless LLP, since 2015 during which time significant investment has seen strong revenue growth and new customer engagement. The new three-year financing facility not only provides day-to-day working capital for the enlarged group but provides headroom to enable further capital investment into manufacturing facilities.
Jonathan Lill, chief executive of BBF, comments: “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.”
