Northampton wholesaler Eureka Produce is expanding thanks to a £500,000 cash injection from a new financial partner that will allow it to grow facilities, market share and provide new jobs.
The Wellingborough-based catering supplier is now working with Aldermore bank, which has financed the latest investment following £3.2 million sales growth over the last seven years.
As well as expanding operations, the investment will help provide new jobs at Eureka, adding to its existing staff base of 40.
Eureka Produce managing director Robert Hudson said: “Eureka has gone from strength to strength since launch, however we took the decision to move finance providers as our existing lender could not offer the financial support we needed to maintain our trajectory.
“Aldermore has demonstrated great agility and flexibility, as well as a sound understanding of our business and sector. They created a bespoke funding solution, which aligns perfectly with our business plan, and the deal only took three weeks from conception to completion.”
The business will now continue to grow, Hudson said, looking to grow market share and fulfil potential.
Stefan Radymski, business development manager at Aldermore, said: “Eureka Produce has demonstrated impressive growth and we are thrilled to playing a part in its journey.”
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