Fruit supplier to Sainsbury’s and Marks and Spencer, Orchard House Foods, has secured a loan of £21.7 million in its bid for post-pandemic growth.
The funds, supplied by Secure Trust Bank (STB), will allow the business to invest in new equipment and develop new products.
Orchard House Foods stayed profitable throughout last year and company insiders said it is well-positioned to grow as lockdown eases over the coming months.
Earlier this year the business was acquired by private equity fund Elaghmore, the former owner of freeze-dried fruit producer Chaucer Foods.
“Prepared fruit is an attractive proposition to the end consumers and retailers alike, but its perishable nature requires specific knowledge and equipment to make the most of the products,” Elaghmore investment director Mike Rice said.
“We have the knowledge and when combined with the support from STB, it allows us to invest in the equipment and product development to deliver our growth strategy.”