Yorkshire pudding firm heats up frozen food market
Pictured (L-R): Richard Clark, Factory Manager at The Real Yorkshire Pudding Company, with Karl Hodson from SYIF and Joanna Ellis at Business Link Yorkshire.
A Doncaster Yorkshire pudding firm has seen a rise in turnover following the purchase of a blast-freezer.
The Real Yorkshire Pudding Company, based in Thorne, received a £50,000 loan from South Yorkshire Investment Fund for the machinery, which was needed to preserve a lucrative national contract and guarantee the jobs of its 70 employees for at least two years.
The company, which relocated from Sheffield 12 years ago, is an established leader in the production of chilled Yorkshire puddings.
But an increased demand in the frozen market opened an opportunity for expansion and the company created an additional chill store and a cold store on the premises.
The blast freezer is used to freeze the puddings quickly to avoid them being squashed before being packaged and it is estimated that the increased business will provide an additional £1 million in turnover. Paul Holmes, Managing Director of The Real Yorkshire Pudding Company, said:
"The opportunity to capitalise on growth in the frozen market came at a good time for the company and the loan from SYIF has helped us to grow with it, satisfying demands of high profile clients.
"This has strengthened our position in the food service industry and complements our growing presence in the export markets of Europe and Canada.
"The blast freezer means we are now as proficient in the frozen food services industry as we have been in the chilled market for the past 12 years and we are now in an extremely healthy position to grow into different markets.
"The business is secured for the next two years at least and our prospects have been given an extra dimension."
Karl Hodson, SYIF’s Investment Director, said: "The company’s growth into the frozen market has been relatively quick and it is a positive statement about its flexibility to respond to industry changes. "It will provide further opportunity to export and enable the company to build on its impressive expansion programme."
Alan Scott of Business Link Yorkshire introduced The Real Yorkshire Pudding Company Ltd to SYIF.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).