Bakery set to rise to new heights

A Midlands-based bakery is expanding with a new café and workspace.

Silver Tree Bakery, a family-run business supplying Michelin-star restaurants and a major coffee chain, has secured £250,000 in debt funding to launch its first dine-in café. 

The bakery, founded by Kirk Bick and Kirsty Cosgrave, will become the anchor tenant at the Gracechurch Centre in Sutton Coldfield, opening a 70-seater café alongside the town’s first dedicated co-working space.

Provided through the Midlands Engine Investment Fund II via Frontier Development Capital, Kirk says the funding will support the fit-out of the 3000sq ft venue, as well as double production at Silver Tree Bakery’s Water Orton site and create 12 to 15 new jobs over the next six months.

Kirk said: “I started my career at the age of 14 with a weekend job in a hotel kitchen, and it has always been my ambition to run a bakery. 

“At Silver Tree Bakery we offer exquisite handmade products using only the finest ingredients. 

“The new outlets will enable us to expand our business while remaining true to our roots as an independent family firm producing high-quality food.”

Ryan Cartwright, investment manager at Frontier Development Capital, added: “Silver Tree Bakery is known for quality, freshness and friendly service at a good price point, and the Water Orton site has become a real success story. 

“The funding will enable it to open its first mainstream retail site. 

“We believe the new Gracechurch venue could have a very positive impact – increasing footfall at the centre, creating new jobs and providing valuable workspace for the local community.”

The bakery grew from a family catering business and pivoted to retail during the 2020 pandemic. 

It now employs 36 staff, produces high-quality cakes, pastries and sourdough breads for a growing wholesale network, as well as operating a woodland café which is popular with local families.

Having run a weekend pop-up at the Gracechurch Centre for the past year, Silver Tree Bakery is set to open the new café in early December and plans a similar concept in Birmingham city centre next year. 

The £400 million Midlands Engine Investment Fund II, operated by the British Business Bank, provides equity investment of up to £5 million and debt finance from £25,000 to £2 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.

David Tindall, senior investment manager at the British Business Bank, added: “The Midlands Engine Investment Fund II aims to help ambitious entrepreneurs realise their growth ambitions – helping them to scale, generate employment and prosper. 

“Silvertree Bakery is driven by a team doing just that with impressive plans to open new sites, create jobs and broaden their offer with an exciting new co-working space. 

“Helping the team build the business and create a vital hub for the local community is fantastic.”

Paul Atkins of Source Business Finance provided fundraising advice to Silver Tree Bakery.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →