PwC advises Robert’s Bakery on £18m finance raising
The family owned bakery based in Cheshire has successfully raised £18m to fund significant investment and upgrades to plant and equipment.
The bakery, owned by Frank Roberts & Sons Limited is a fourth generation family business dating back to 1887, and is the fourth largest retail bread brand in the UK. The company serves a mix of national branded retail, own label, food to go and food service customers, under key brands Roberts Bakery and Little Treats.
Mike Roberts, family member and Deputy Chairman of the business commented: “The new funding puts us in a very strong position and allows us to really invest in the future growth of our business and advance on our journey towards Net Zero Carbon. We’re constantly innovating new products alongside our core offerings and we now have the opportunity to ensure our bakery uses the most modern equipment and continues to produce the best quality products available on the shelves.”
PwC Debt & Capital Advisory advised the company on the financing, led by director Dominic Renshaw and supported by Ash Jacobs and Sam Morkel.
Dominic commented:
“This is an iconic brand in the North West and beyond and I’m very pleased that we’ve been successful in raising the funding for investment in a business that means so much to the local community”.
The £18m funding package has been raised through an asset based lending facility, provided by Wells Fargo.
“We are delighted to have delivered to Frank Roberts a credit solution that is tailored towards their business needs. Frank Roberts has a fantastic heritage and great brand, especially in its heartland market, by leveraging Wells Fargo Capital Finance’s capabilities we are proud to support their business as it continues to grow.”
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Partner, Head of Debt & Capital Advisory, PwC United Kingdom
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