A seven-figure funding package has been secured by Grimsby bird seed specialist Haith’s as it looks to build on strong demand through lockdown.
The long-standing business, now in third generation hands, has benefitted from a spending increase in stay-at-home goods, with people looking to populate gardens and open spaces.
It has led it to explore new markets and further improve the online operations - working with Leicester-based Cambridge & Counties Bank.
Rachael Haith, director at the Europarc business, said: “We have seen strong customer demand during the last few years and are delighted to have secured the competitive refinance package which will allow the business to invest for growth.
“The lockdown has seen many people rekindle their love for the natural world.
“The funding and support from Cambridge & Counties Bank is central to our aspirations as we build on this momentum and take the business forward with a stronger digital, internationalised offering, suitable for cross-border ecommerce.”
Haith’s recently sold its former premises on Park Street, Cleethorpes - having left it in 2008 - and the new deal is secured against the state-of-the-art site it moved to.
The company has also moved into the fishing baits market in recent years.
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The management team was introduced to the bank by business finance expert David Jockel from One Stop Business Finance Ltd.
Carl Ashley, regional director for North & Scotland at Cambridge & Counties Bank, said: “Haith’s is a very established and trusted name in the market it operates, with strong customer loyalty and increasing demand for its products from new customers.
“We are delighted to provide the financial support it requires for expansion and continual development. The new management team have many good ideas to grow the business further, and we are confident that Haith’s are well positioned to capitalise on this opportunity.”
The bank was supported in the transaction by Kate Burlinson at law firm BHW and by James Coleman at valuers Eddisons.