Family-run Peach Hampers says it will double capacity as its Hull base having secured a £227,000 loan.
The Boulevard business, which was launched 12 years ago by freelance graphic designer Brendan Pallant in his spare bedroom, produces hampers branded with clients' logos. Funding has come from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II.
The capital will help Peach Hampers, which is now run together with Mr Pallant's wife Letitia, to double capacity via new mezzanine floor in its warehouse and provide storage for an additional 7,500 extra hampers which could be ready to ship during peak times. And a new conveyor belt and pallet wrapping machine will double the number of hampers that can be packed each day.
Brendan Pallant, founder and managing director, said: “Hampers are a great way for companies to provide a thoughtful gift to staff or customers that requires minimal time and effort. We spotted a gap in the market for a supplier that could offer branding free of charge.
"Our business has gone from strength to strength but we have been missing out on valuable revenue during the peak Christmas period. The funding will enable us to overcome the constraints and move forward.”
Peach Hampers boasts a number of high profile clients including Jaguar Land Rover, ITV and EE.
Rebecca Pickering of Mercia Debt added: “Peach Hampers is a small, family-run firm that punches well above its weight and competes with big players in the market. The business has grown organically to this point. 2024 has been a transformational year and it is now ready to take on external funding to push it to the next stage. We are pleased to support Brendan and Letitia on their growth journey.”
Lizzy Upton, senior investment manager at the British Business Bank, said: “The Ƶ gifting market is robust and Peach Hampers are capitalising on the growth in this sector, using NPIF II funding to fuel its expansion and ultimately grow its capabilities, all from its base in Hull.”
Andrew Bradley of Humber Business Growth Hub provided business and fundraising advice to the company. The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead.
