Cherrytree Bakery will be expanding into a state-of-the art facility following the acquisition of a 12,000 sq ft building next to its headquarters.
The increased capacity will allow Burnley-based Cherrytree to expand its tray bake offer, meet additional demand and strike deals in new markets.
Over recent months the business has won a series of new contracts with major national retailers and has ambitions to double its turnover in the next three years to £50million.
Cherrytree Bakery MD Mark Beaumont said: “We are delighted to have completed the deal to buy the facility. It’s right next door to our existing bakery — so the location is perfect.
“The business has enjoyed a number of years of successful growth and demand continues to be high, so this is a logical step forward. This £1million investment demonstrates our ambitions to grow the business significantly and this expansion will give us the perfect platform.
“We have a strong order book, enjoy great client relationships, and have significant demand for our range. Companies work with us because they know that we produce exceptional products, and this is down to attention to detail and teamwork.”
Earlier this year Cherrytree Bakery ran a major recruitment drive for 50 new staff after introducing a new weekend shift in order to meet growing demand. It will be recruiting again once the new facility is up and running.
Cherrytree is hoping to start work on the refurbishment of its new building as soon as possible, with a view to bringing it online later this year. The plan is to make the facility as energy efficient as possible with the firm exploring carbon reduction options.
Cherrytree was supported in the purchase by Barclays and Shakira Musarat, Barclays Relationship Director, said: We are delighted to support Cherrytree Bakery on the next stage of their growth journey. They are an innovative, exciting business with strong social and environmental focus, creating jobs and opportunities in the heart of Lancashire.”
Cherrytree Bakery, founded in 1984 by executive chair Gary Entwistle, makes muffins, tray bakes and Chorley cakes for a large number of customers, who include leading supermarkets and coffee shops.
Editor: Kiran Grewal email@example.com