The bakery, which recently won the claim of being the world’s oldest pasty-maker, was given the funding through Santander’s Breakthrough Programme. It will be using the money to expand retail activities in the West Country and further throughout the UK.
Mark Sullivan, chairman of Warrens Bakery, said: “We’ve always had big ambitions for Warrens since acquiring the business in 2013 and recognising the enormous potential of the brand. The investment and strong personal support and involvement from Santander will help us to complete the next phase of growth, as we develop the brand and product range through our own stores, as well as with wholesale and retail customers.”
The bakery currently operates 40 retail outlets, and has two major production units in St Just, Cornwall and Plymouth, Devon.
Darren Hart, head of growth capital at Santander UK, said: “As the world’s oldest producer of Cornish pasties, Warrens Bakery has an enviable legacy and reputation for quality products. The business has experienced significant growth in recent years and we are confident that Warrens will be able to use the additional funding to expand its retail operations in Cornwall and beyond.”
This comes amidst fears that the Cornish pasty could lose its EU protected status due to a proposed free trade deal between the European Union and the USA earlier this month.
Warrens Bakery also supplies major retailers and wholesalers, both in the UK and overseas, through its expanding trade division, ‘Simply Cornish’.