A food and drink producer has secured £250,000 to upgrade its production facilities, create eight jobs and service its growing customer base.
Wild Jacks, which has a number of brands based in Lioncolnshire providing meat, bakery products, wine and deli products, secured the finance from Midlands Engine Investment Fund (MEIF).
The lending was overseen by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme (RLS).
The investment will also allow the company to increase capacity in its existing events catering facilities, refurbish its premises and service new national contracts.
Wild Jacks was founded in 2020 by Stuart and Joanna Hancock to source high-quality foods, bakery and meat products from Lincolnshire and works with local producers, arable and meat farmers.
Its brands include Odling's Butchers of Navenby, Welbourne's Wine & Deli, Welbourne's Bakery and their most recent acquisition, JH Starbuck (Baker & Caterer).
Mr Hancock said: “Lincolnshire has a proud history of agriculture and thanks to this investment, we will be able to accelerate our growth plans to offer high-quality, sustainable and local produce to a national range of customers.
“It has been great working alongside Leo and The FSE Group’s Midlands team, the funding arrives at a really important time for the business as we scale up our operations to service our growing customer numbers."
Leo Magee, investment manager at The FSE Group, which manages the MEIF Debt Finance Fund, said: “We were impressed by Wild Jacks’ track record of rapid growth.
“The team boast senior personnel with significant experience in the industry.
“Additionally, the company has an impressive suite of business lines with a focus on providing the best locally sourced products.
“We are delighted to be able to offer this funding and look forward to working with Stuart, Joanna and the team to ensure they reach their goals for growth.”
Lewis Stringer, senior manager at the British Business Bank, said: “This latest MEIF deal, backed by the Recovery Loan Scheme, will allow Wild Jacks to upgrade its production facilities, creating new jobs and supporting the business with its growth plans.
“This is another example of the region’s thriving food and drink sector. We would encourage other local businesses seeking to innovate and grow, to consider the options available through MEIF funding.”
Sarah Louise Fairburn, chair of the Greater Lincolnshire Local Enterprise Partnership’s Food Board, said: “This is great news for an exciting new Lincolnshire business, and this funding underlines the importance of the food sector to Greater Lincolnshire.
“Our area is home to some outstanding food producers, from fish to free range pork and from cheese to chocolate.
“It’s no wonder that a business which champions Lincolnshire produce has become so successful so quickly."
