Holmesterne Foods, a manufacturer of meat-free alternatives, has just received an investment of £250,000. As a result, they have announced that they will be able to create 20 new positions at the company.
Northern Powerhouse Investment Fund
The NPIF has approved the funding, via Mercia Debt Finance, that will help to allow the production of more in-demand meat alternatives from Holmesterne. This comes at a great time, as the UK embraces the concept of Veganuary and many brands around the country are launching new vegan products to compete.
The investment has already allowed the team to add six new members to their roster in Brompton, North Yorkshire, as a direct and immediate result. As it is able to grow more thanks to the added funding, the business owners believe that they will be able to further food jobs, like those you would find on our boards here, as time goes on.
The company’s Leeming Bar facility has also seen a workforce expansion, with 14 jobs added as well as new machinery and equipment to help speed up production and reduce ongoing costs.
New Product Range
“Holmesterne Foods take pride in adapting to consumers’ needs and with meat-free alternatives on the rise, we have been able to utilise the loan by creating our own range of products,” said Managing Director Keith Tindell. “Not only this, but this new source of capital has also allowed us to create new jobs across both our facilities, scale up our operations and successfully fulfil an influx of new business. We’re now in an excellent position for further growth and we are excited to see how our new products will be received by the market.”
Paul Arthur is the Investment Manager at Mercia. He said that the investment they have made in Holmesterne will help them to diversify their product offering. This will meet growing demand for vegan food, which does not appear to be slowing down any time soon.
The NPIF is supported partly by finance from the EU, in the form of the European Regional Development Fund (ERDF). This is part of the European Structural and Investment Funds Growth Programme 2014-2020, and is supported also by the European Investment Bank. Holmesterne are lucky to be receiving funding at this late stage, as investments are likely to be lower once the NPIF has lost access to this funding.
Any employers who are looking at their own last-minute funding and need to hire high-quality staff quickly can explore their options for recruitment here, using our services to find the best possible fit for each job.
Grant Peggie, the Director at British Business Bank, added the following: “NPIF is proud to support businesses across the north of England which demonstrate a clear and ambitious growth strategy. As a result of the investment, Holmesterne Foods has been able to enter new markets and increase staffing, and the company is now primed for even further expansion.”
We will bring further updates on recruitment as they come.