Sweet six figure investment for West Yorkshire brownies company
West Yorkshire based Love Brownies has secured a £150k investment from NPIF – FW Capital Debt Finance.
Founded in 2009 by husband and wife team Lee and Chantal Teal, Love Brownies has grown from a home based business to a 17-person operation with a bakery and a cafe in Ilkley.
Managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF), the funding will be used to turn the business into a franchise model, invest in the company’s Ilkley premises and open a new bakery.
Nicky Atkinson, deputy fund manager at FW Capital, explained: “Love Brownies is a dynamic company with ambitious plans for the future.
“The Love Brownies management team is totally committed to growing the company whilst maintaining the quality of their products which they are known for. We are delighted to have been able to support them into the next phase of their development.”
The investment in Love Brownies is the latest from the NPIF, which provides a blend of debt and equity funding to support Northern SMEs from its base in the British Business Bank’s Sheffield head office.
Grant Peggie, director at British Business Bank, commented: “Since its launch in 2017, NPIF’s impact on businesses has been wide-ranging, providing funding to launch new products, employ new staff, enter new markets and acquire new facilities.
“We are pleased that NPIF is continuing to unlock the North’s growth potential by supporting small businesses with vital investment.”
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