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Wrights Food Group invests £7m at Crewe factory
Wrights Food Group, the North West food manufacturer famous for its pies and pasties, has completed a £7m investment programme at its Crewe manufacturing facilities.
The year-long investment, which was backed by a £3million funding package from Lloyds Bank Commercial Banking, included the introduction of a new savoury production line, ovens and cold storage facilities.
Wrights, which has an annual turnover of £60m, supplies pies and other savoury food products to more than a third of clubs in the English Football League.
The investment comes at a time of significant growth for the family firm, which was founded in 1926. Wrights has grown its workforce by 10 per cent to 650 people in the last year, thanks in part to the success of its new vending division, Urban Bistro, which supplies fresh food for vending machines in offices, factories and venues across the UK. Wrights expects to double the size of its offer to more than 600 locations in the next year.
In addition, the manufacturer, which makes more than 3.5 million savoury products a week – including a new vegan range – has secured its first strategic partnership with a specialist airline catering supplier, marking entry into a brand-new market for the firm.
Peter Wright, chairman and chief executive of Wrights Food Group, said: “This investment in new equipment gives us the capacity to boost growth and make our entire operation more efficient at an important moment in our long history. It is critical that we are able to stand out from our competitors and this new funding will help diversify our offer as the first UK vending company to manufacture and supply fresh food on a daily basis. We’ll also be in a position to improve the sustainability of our packaging – introducing more and more recyclable materials into our processes.”
Chris Pennick, relationship director at Lloyds Bank Commercial Banking, said: “Wrights Foods Group is a North West institution, but the business has always moved with the times to react to changing tastes and opportunities. For firms like Wrights to realise their growth ambitions, it’s critical that they have flexible funding to invest both now and in the future.”
The funding forms part of Lloyds Bank’s commitment to help Britain prosper by lending £1.3 billion to businesses in the North West during 2019.