The loan came after demand for the Welsh firm’s products rapidly increased over the past three or four years, said The Cake Crew. It will allow the company to recruit more workers, and grow further, the manufacturer added.
The Cake Crew’s md Simon Faithfull said: “As a company, we focus on quality and continuously improving the products we manufacture for our retail customers. Over the last few years, we’ve seen substantial growth as our products have found favour with consumers and, as a result, new retail customers have come on board.
“The funding provided by Finance Wales is enabling us to expand, supporting employment and our contribution to the North Wales economy.”
The Cake Crew was recruiting managerial and support workers in its quality, technical and new product development departments, as well as a factory worker and forklift truck driver.
The loan was part-funded by the European Regional Development Fund through the Welsh government. The fund was designed to support small and medium-sized enterprises in Wales, and to deliver sustainable economic growth and jobs.
Finance Wales senior investment executive Rhodri Evans said: “The Cake Crew are a great example of a local success story with the business having grown significantly over the last 3 – 4 years. We are delighted to be able to support them with their continued growth.”
The Cake Crew has a 2323m2 bakery in Bala, Gwynedd, and has about 240 workers. It has semi-automated production lines to boost efficiency.
The cake maker produces a range of products, including cupcakes, mini cups and loaf cakes. It makes chocolate, strawberries and cream, and vanilla butterfly cupcakes. Mini cups include chocolate and pirate-themed cakes, while its loaf cakes include marble, coconut and ginger cakes.
The Cake Crew loan – at a glance
- £500,000 loan from Finance Wales
- Production capacity expansion planned
- Jobs created from loan