Online food and ingredients supplier MSK Ingredients is set to expand, following investment from Santander.
MSK plans to expand its product suite, invest in business process re-engineering and take on more staff, after it received £750,000 in funding from Santander Corporate & Commercial. This includes a £200,000 growth capital loan, aimed at fast-growth, ambitious UK businesses.
The specialist food ingredients and equipment business supplies premium ingredients to the dining, hotel and catering markets, and is known for its flavouring and molecular gastronomy ranges of products.
The funding from Santander Corporate & Commercial has allowed the firm to invest for growth, but it also consolidated the management team by buying out an existing shareholder. There are plans to automate and improve internal systems as well as take on more staff over the next year.
In addition, MSK is launching a new catalogue with more than 1,000 new product lines, in order to drive sales, and it is also looking to expand abroad.
Kevin Bateman, founder and owner of MSK Ingredients, said: “Our trading philosophy is to supply the finest-quality ingredients available and to source and offer innovative and unique products, which will provide a point of difference.
“This strategy has worked well for the firm and we are in a strong position to invest for growth and capitalise further on the strong momentum we have in the market.”