The funding from HSBC UK will help support the manufacturer’s growth globally, as well as the development of an additional site in Lincolnshire and creating job opportunities across the UK. It will also be used to grow its customer base and meet increased levels of demand in 2021.
James Hirst, managing director at Brecks Food, said: “Securing this funding from HSBC UK is a real milestone for Brecks and will support the future of the business as we approach our 30th Anniversary as an organisation.
“We’re looking to seize the opportunities in front of us at this time and the bank’s support will allow this to happen. Growth also allows us to create even more job opportunities in the UK and provide more of our sustainably focused products around the world.”
Initially a producer of cereal ingredients, Brecks has gone on to make a name for itself in the plant-based foods category.
The manufacturer now supplies plant-based ingredients – alongside vegetarian and vegan products – to customers in the UK, Europe, North America and Asia, including through its recent investment in Plant & Bean, a dedicated plant-based meat company.
HSBC UK relationship director for corporate banking Tom Sikora added: “The Brecks Food Company operates in a market that has grown significantly in recent years and the business clearly has what it takes to compete on a global scale.
“We’re really pleased to be able to support them at a crucial time in their journey as a business. We look forward to watching Brecks grow locally, across the nation and around the world.”
Meanwhile, the past week has seen a number of food and drink firms invest into expanding their businesses, including potato packer R S Cockerill’s £3m expansion and a £2.6m investment by Welsh butcher Edwards of Conwy into its headquarters.