Colin the Caterpillar maker 'set to rise' with funding lift

A baker is feeling sweet after securing eight-figure support to roll out expansion plans.

Park Cakes has been backed to bolster manufacturing operations.

Bosses say the funding – secured from HSBC UK – will allow the 89-year-old company to build on an annual 130 million-cake order book.

Operating from sites in Oldham and Bolton, Park Cakes’ portfolio includes M&S’ well-known Colin the Caterpillar range, as well as baked goods for additional UK and international retailers.

Paul Morton, chief financial officer, said: “We needed an organisation that could grasp the scale of the opportunities that lay ahead.

“We’ve found a banking partner that understands our business, and look forward to what the future brings.”

Dean Smith, HSBC UK global relationship director, added: “Park Cakes is a business with best practice at its core.

“We’re excited to see how it utilises the funding to continue growing across the sector.”

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