Partner Article

Positive lays foundations for chicken wholesaler to expand

Food manufacturer Summers Poultry Products Ltd (“Summers Poultry”) has secured a £475,000 finance facility from Birmingham based invoice finance specialists, Positive Cashflow Finance (“Positive”).

The family owned business based in Solihull dates back to 1967 and was originally established by John Summers Senior before his son, John Summers was appointed managing director in 2005. Summers Poultry supplies halal chicken products to a number of food manufacturers, restaurants and food outlets throughout the UK. More recently they have started supplying into other European countries as their excellent reputation has spread.

The business achieved sales of £12million last year and with the increased funding facility expects to see significant growth and achieve sales of £14 million in 2015 after securing a number of high value contracts. Nathan Goldby of KSA Associates advised on the deal and David Gledhill of Bermans provided the legal advice.

John Summers, managing director at Summers Poultry said: “After a successful 12 months, we wanted to increase our working capital to support our growth plans as we are keen to supply more businesses throughout the UK and Europe.

“Positive’s hands on approach and the simplicity of their system made the decision simple and I look forward to building a good working with them relationship in the future.”

Paul Varley, regional sales director at Positive said: “Summers has a long history and we are looking forward to supporting this local business with a secure funding solution that will allow John and the rest of the team to focus on expanding the business.”

Positive is an independent invoice finance provider with offices in Manchester and Birmingham offering facilities from £10,000 to £1m.

This was posted in Bdaily's Members' News section by Nick Chapman .