Butcher's feasts on £4m funding deal
Butcher's Pet Care, based in Northamptonshire, has grown its international base and generated 50 jobs after securing £4m of funding with Lloyds Bank Corporate Markets.
The company said the investment would allow it to complete construction of a new factory at its site in Crick, which has created 50 new jobs.
The latest round of funding will be used to invest in an additional production line within the new facility, said Butcher's Pet Care. It follows the £17.5m of backing Lloyds Bank Corporate Markets provided in June 2010 to support the development of the new site.
Butcher's Pet Care's new site, which is set to open in March 2012, will provide up to 50 per cent extra capacity and produce more than 1,000 cans of pet food per minute.
Francis Powell, financial director for Butcher's Pet Care, said: "The new factory is a crucial step towards further growth for the company both in the domestic and international markets. The team from Lloyds Bank understood and supported our expansion strategy from the off and continues to work in partnership with us to realise our plans.
"Once operational, the current phase of development within our new factory will enable us to dramatically increase the production and reach of our many successful brands."
The £4m funding package was provided by the Milton Keynes office of Lloyds Bank Corporate Markets.
Butcher's Pet Care owns the Butcher's, Butcher's Choice and Butcher's Superior dog food brands.
