Member Article

South Yorkshire poultry firm set to double turnover to £5 million

Thorne-based poultry specialists Bankwood Meats has rolled out an expansion plan and increased its workforce after securing new facilities from Yorkshire Bank.

The company has secured £530k working capital facilities from Yorkshire Bank’s Business and Private Banking Centre in Doncaster.

Established in South Yorkshire in 2004, Bankwood Meats employs 20 people at its headquarters in Thorne, near Doncaster. Bankwood Meats is a specialist in quality cooked turkey products with 100% meat content.

A new customer the funding will support the investment in the business and the recruitment of further staff to drive growth and enhance services to existing clients.

The deal was arranged by, Richard Boor, relationship manager, and Sharon Mapplebeck, from the invoice finance team at Yorkshire Bank’s Business and Private Banking Centre in Doncaster.

John Hearsey, director at Bankwood Meats, said: “This significant financial commitment will help us to extend our reach in a sector we have been established in for the last decade.

“By investing in our business and new staff we will be able to expand our client base while providing existing customers with an enhanced service.

“This would not have been possible without the support of the Yorkshire Bank which has worked closely with our team to help us realise our ambitions.”

Bankwood Meats currently has annual turnover of around £2.6 million and plans to double this to £5 million in the next five years. The planned increase in capacity could create up to 15 new jobs.

Kevin Elliott, head of Yorkshire Bank’s Business and Private Banking Centre in Doncaster, said: “The success of Bankwood Meats is testament to the experience, drive and expertise shown by the management team, and represents all that is good about the entrepreneurial spirit of businesses in South Yorkshire.

“As we begin to see signs of economic recovery, Yorkshire Bank remains focused on investing in the growth ambitions of the local business community.”

This was posted in Bdaily's Members' News section by Clare Burnett .