The UK supplier of retailer own brand cakes and desserts, Park Cakes, has said it plans to announce new “growth and investment opportunities” after securing a multi-million-pound package of funding from Yorkshire Bank.
Park Cakes did not disclose the amount of funding, but finance director Paul Morton said: “The funding package, put together by Yorkshire Bank, will enable us to further invest in the business and continue with our aggressive growth plans. We have exciting developments in the pipeline over the next two to three years.”
Park Cakes manufactures premium cakes and desserts for leading retailers, including Marks and Spencer, from two production sites in Oldham and Bolton. The company was established nearly 80 years ago and is owned by funds advised by the European mid-market investment firm, Vision Capital.
Around 1,200 permanent staff are employed at Park Cakes with up to 1,000 seasonal staff at peak production times such as Christmas.