Ashton bakery secures funding package

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The Ashton-Under-Lyne bakery  Hill Biscuits will create 50 jobs after securing a lucrative funding package.
 
The company, which traces its roots back to the 1850s, landed the money from the Greater Manchester Investment Fund (GMIF).
 
Hill Biscuits manufacturers branded and own label products for a range of retailers, wholesalers and food service customers.
 
Bosses have today revealed ambitious expansion plans which will include investing the funds in new machinery to boost capacity as its Ashton-under-Lyne bakery.
 
The £1.5m package is the second round of investment Hill Biscuits has secured from GMIF.
 
In 2013, GMIF, which is supported by the Government’s Regional Growth Fund, provided a £276,000 loan to develop a new packaging facility.
 
That project that  has already created 59 jobs will create around 50 further positions at the site, bringing the total workforce to over 300.
 
Kieran Quinn  Tameside Council leader said: “Hill Biscuits are part of Tameside’s industrial heritage. The company is dear to the hearts of many Tamesiders as we associate the area around their factory with the fantastic smell of baking biscuits.
 
"Tameside council have been working closely with the management team and the GMCA to help secure this funding which allows the company to increase local employment and invest in the future and I am delighted that it helps secure future investment in the site.”
 
 
 
Richard Cowan, a senior associate of Pannone Corporate, who advised on the Hill Biscuits deal, said: “Hill Biscuits is an entrepreneurial company with a strong management team which is increasing market share. We are delighted to advise GMIF on its latest investment which provides Hill Biscuits with a strong platform to achieve its ambitions."
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