Pieminister is acquiring new plant and machinery and opening three new restaurants after securing £1.65m in financing.
The business is using part of the HSBC finance package to invest in new kit at its kitchens in Bristol. In addition to increasing capacity, the company said this would boost efficiency and help the business offset “significant cost price inflation” experienced over the past 12 months.
It will also fund the opening of three new restaurants, the first of which, in London’s Brixton Market, opened this month. Other sites are being considered in the north of England for early 2018.
Co-founded in 2003 by brothers-in-law Jon Simon and Tristan Hogg, Pieminster operates restaurants and cafes in cities including Bath, Birmingham, Manchester, Cardiff, Leeds and Stoke-on-Trent.
Pieminister-branded pies are sold in pubs and market stalls as well as retailers including Harrods, Whole Foods Market, Waitrose, The Co-operative, Sainsbury’s and Tesco.
The new finance package come 18 months after Pieminister secured £1.4m funding from HSBC to open five new restaurants.
“Growth tends to conjure up new business challenges but the team at HSBC are always on hand to advise and guide us through; and this latest venture is no exception. As always we are grateful to the bank for believing in us and allowing us to not only grow the business but improve the way we run it,” said Simon.