The Yorkshire Pudding Pie company is to open a factory in Malton after securing a ‘significant’ investment.
The funding – the amount of which has not been disclosed – will be used to build a 2,000 sq ft factory in Malton and employ eight more staff so it can step up production and sell pies on a national scale, with the aim of securing supply deals with supermarkets and farm shops.
The deal was advised by accountants and business advisers Garbutt + Elliot, which secured the funding from a small group of food entrepreneurs. It also advised on company structure and will provide accounting, management information and taxation services as the business grows.
In addition, Garbutt + Elliot’s corporate finance partner Tony Farmer is to join the Yorkshire Pudding Pie Company board.
“We believe our product has huge national potential as Yorkshire Pudding Pies can be served in restaurants, sold hot as street food or cold to reheat at home. When in York, we’ve had tourist customers asking us to take them to America, Australia, New Zealand and Hong Kong to name a few, so they may even become global,” said Ted Harrison, founder of Yorkshire Pudding Pie Company.
So far, the family business has produced around 10,000 pies over the past year which were sold at food festivals, pop-up pubs and the pop-up Shakespeare Theatre, York as well as online. This has led to the company having a turnover of £30,000.
Variants include sausage & red onion marmalade, Dexter steak, Mediterranean vegetables and chicken & chorizo. All are encased in a Yorkshire pudding rather traditional pastry.
Farmer added: “Yorkshire Pudding Pies combine brilliant taste and flavour with a modern slant in a sector that needs a fresh approach. Our confidence in the Yorkshire Pudding Pie Company is best demonstrated by the commitment we have made to the business, beyond traditional accounting and business development advice, as we believe they can become market leaders.”