A specialist pie maker based in North Yorkshire is gearing up for growth after securing investment totalling £150,000.
The Yorkshire Pudding Pie Company, which is based at Malton, has won backing of £50,000 from NPIF – BEF & FFE Microfinance, part of the Northern Powerhouse Investment Fund, and £100,000 directly by BEF.
The company is best-known for hand crafting Puddies, which make pies out of Yorkshire pudding rather than pastry. It uses locally sourced ingredients with each batch made using Yorkshire Wagyu beef, Yorkshire Gloucester Old Spot sausages and Yorkshire eggs.
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The funding will help the company complete a new manufacturing facility, increase marketing activity and double its workforce with five new staff.
Puddies are currently shipped directly to customers who order online. The completion of the manufacturing facility will help the business to meet growing demand from online customers, major supermarkets and independent retailers.
The company was established in 2017 by Lynne and Ted Harrison and has grown considerably since its inception. It donates produce from every batch to local vulnerable people having to self-isolate and to local food banks.
Mr Harrison said: “NPIF and BEF have been incredibly supportive in helping us to grow the sales of our lovely Puddies, they’re great examples of financial institutions doing their bit to support small businesses gain access to finance.”
Andy Clough, investment manager at BEF said: “The Yorkshire Pudding Pie Company have an excellent opportunity to grow sales by bringing new retailers onboard. The funding and strong management team will help them to realise their ambitious growth plans.”
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Sean Hutchinson at the British Business Bank said: “The Yorkshire Pudding Pie Company is a good example of a business that has seen an opportunity in a volatile market, adapting their business model to ensure sales could continue. NPIF is proud to support businesses such as this as they look to grow, creating new jobs and boosting the local economy.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.