Butcher’s Pet Care seals £17.5m deal with Lloyds TSB
Posted on 16. Jul, 2010 by editor in Business News
Butcher’s Pet Care has secured £17.5 million of funding from Lloyds TSB Corporate Markets to support its UK and international growth through the development of a new factory at its site in Crick, Northamptonshire.
Butchers, which employs over 200 people, is best known for its range of dog food and some of the biggest pet food brands in the UK. The firm previously had its operations split over several buildings but the new funding will enable Butchers to bring everything under one roof in a 260,000 sq ft state-of-the-art factory. The new facility, which is set to begin production in Autumn 2011, will include the latest environmental techniques and technology to provide up to 50 per cent extra capacity and make over 1,000 cans of pet food per minute.
Francis Powell, Financial Director for Butchers Pet Care, said: “This deal gives us the firm financial foundations we need to consolidate our strong position in the pet food market through the development of our new production facilities, plus it puts us in a great position to expand our presence across Europe. Lloyds TSB’s understanding and appreciation of the business’s strategic development and vision made completing this deal simple and straight forward.”
The deal was led by Ian Barkes, Relationship Director from Lloyds TSB Corporate Markets in Milton Keynes. Ian added: “As a major local employer and one of the country’s best known pet food brands, we are very pleased to help Butcher’s continue its growth in the UK and to further develop its export businesses. The success of firms like Butcher’s is very important and will help create a strong and sustained economic recovery.”
Butcher’s Pet Care owns the Butcher’s, Butcher’s Choice and Butcher’s Superior dog food brands and the Classic cat food brand. The business was set up in 1987 when Butcher’s Pet Care’s Chairman, Graham Baker, transferred his expertise in farming and meat production into pet food canning. Today, Butchers is the number two player in the UK canned dog food market and maintains its strong commitment to producing naturally nutritious pet foods using no artificial colourings, flavourings or preservatives
