An award-winning food manufacturer in Dunstable is set to create 100 new jobs over the next 12 months.
Signature Flatbreads made the announcement after securing a £10million working capital facility from Lloyds Bank Commercial Banking.
The food manufacturer, which operates from seven production units on the Woodside and Chiltern Park Estates in Dunstable and employs over 1,000 people, will create the new positions to help meet increasing demand after it experienced a 17% uplift in sales over the last year.
The company was set up in 2015 as a Joint Venture between the Eid family and Aryzta, it is the leading supplier of flatbreads, naans and tortilla wraps to the UK’s supermarkets. The Eid family are now the owners of the company following a management buyout earlier this year.
Duncan Gray, Group CFO, said: “We’ve seen increased demand for our products over the past five years, as people move away from traditional lunch options in favour of tastier, lower calorie alternatives. Investing in our staff will help us to meet this rising demand, as well as providing us with the additional capacity needed to develop new products.
“Having access to working capital facilities has given us the headspace needed to focus on our expansion.
“The team at Lloyds Bank took the time to understand our business plans and ambitions, and, as a result, were able to provide a funding package that was exactly suited to our needs.”
Derek Neill, relationship director at Lloyds Bank Commercial Banking, said: “Signature Flatbreads is a significant contributor to the regional economy, and in the past year alone it’s created more than 100 jobs for people in the local area.”