Batchd

Source: Mercia Asset Management

Batch’d CEO David Richmond (left) and Gary Whitaker of Mercia Asset Management

A rapidly expanding baked goods business has set its sights on a £20m turnover by 2026.

Leeds-based Batch’d operates 24 sites selling sweet treats such as brownies and cookies made by independent Yorkshire bakers. With a turnover of £6.5m, it has stores or kiosks in locations including York, Bradford, Sheffield, Manchester, Leicester, Birmingham and Wolverhampton.

Batch’d was founded during the pandemic by CEO David Richmond, who previously ran a taxi firm. With the covid outbreak curtailing demand for taxis, Richmond began offering food deliveries. The company came to specialise in bakery products and opened its first shop in the White Rose Centre in Leeds.

It now has 120 direct employees, as well as supporting jobs in independent bakeries, and a turnover of £6.5m.

It plans to increase that to £20m by 2026 and raise staff numbers to 250 after securing a £250,000 loan from NPIF – Mercia Debt Finance. Managed by Mercia Asset Management, this is part of the Northern Powerhouse Investment Fund that provides funding for small businesses in northern England.

The funding will enable Batch’d to open new kiosks, recruit staff to operate them and enhance its ecommerce site to expand online sales.

“This funding will help us to continue our growth and bring Batch’d products to a wider audience,” said Richmond.

“Our strength lies in our suppliers. We handpick the best small-scale bakeries and sell their products across Batch’d locations. We are enormously proud of our range and want everyone to feel included which is why we take our vegan range seriously.”

Gary Whitaker, an investment manager at Mercia, described Batch’d as a great post-covid success story.

“David’s transition from running a taxi company to deliveries and then developing a fast-growing artisan bakery chain is truly remarkable. Batch’d is a hugely successful operation that offers high-quality products and supports independent bakers. We are delighted to support its future growth.”