Shipley-based Hughes Bakers has secured a £600,000 loan from the Northern Powerhouse Investment Fund (NPIF).
Following the news of its merger with Asa Nicholson of Bradford as part of expansion plans, and ahead of an expected rebrand later this year, Hughes received the loan from FW Capital Debt Finance, part of the NPIF which provides a mix of debt and equity funding.
Hughes said it would use the six-figure investment to increase on-site capacity, simplify its product range in line with current consumer trends and work towards achieving British Retail Consortium accreditation – a prerequisite for large-scale suppliers of the UK’s major supermarkets.
A total of 12 jobs would also be created to supplement the existing team of 73.
“Hughes is an established bakery in Yorkshire, working with Asda and Co-op as well as a large number of smaller, independent retailers,” said Colin Davies, finance director at Hughes Bakers.
“Our plans now involve increasing our capacity for commercial volumes so we can service the larger retailers and we are already talking to the big supermarket chains about achieving listings. We also intend to innovate within our product development so we can be more artisan in what we do.”
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