Coopland & Son is set to open 30 new shops in three years across the north of England following a £8.5m external investment from investors Business Growth Fund (BGF).
As well as the expansion, the funds will be used to improve and develop its production facilities. The business will also expand its growing sandwich van service, which delivers fresh food to industrial and business parks.
The deal means BGF will be a minority partner in the Coopland & Son business, which produces baked goods such as breads, pies and pasties, and employs 1,500 members of staff.
Paul Coopland, managing director of Coopland & Son, said the deal marks an important step for the business.
“Cooplands is in great health and we’ve opened a number of new sites this year alone. The partnership with BGF allows us to accelerate that growth and benefit from being part of a bigger network,” said Coopland.
“As a family business, we didn’t take the decision to bring on board an external investor lightly. We had a number of options but felt that BGF’s culture and long-term minority investment would provide us with flexibility and control as we continue to grow.”
Founded in 1885, Cooplands has grown from five shops to more than 140 across Lincolnshire, Yorkshire and the north east.