Aldermore has agreed an additional £1.25m credit line with Simply Lunch, a food supplier based in south London.
As a result of previous funding from Aldermore in 2015, the company moved to new premises allowing it to expand by investing in new equipment. Over an 18 month period sales grew from £2m to £10m.
Simply Lunch delivers food to organisations across the UK and has established itself as a leading supplier of pre-packed sandwiches, salads and hot food.
The company, founded 30 years ago, now employs 170-180 people.
The family’s appetite for additional development has seen the firm receive new funding from Aldermore as the business’ turnover is set to further increase to £30m over the next three years and this will enable the company to strengthen its focus on client satisfaction and quality produce.
Sam Page, chief executive, Simply Lunch said: “We are very proud of what we have achieved since we started our family business 30 years ago. For us to grow our business further, we needed to work with a financial partner that understands our ambitious growth plans, and that company is Aldermore. It has helped us in a number of ways over the years, from invoice financing to asset financing, supply funds, purchase vehicles and machinery. It’s the flexible approach to financing that makes our partnership such a success. The Aldermore team has taken the time to learn who we are as a business, and it is committed to accompanying us on this growth journey.”
Howard Atkinson, relationship manager at Aldermore, said: “Over the years we have developed a strong working relationship with Simply Lunch. The family is totally committed to the business and constantly investing in new machinery and vehicles to keep up with the demand for products. Working with a group of individuals with a clear vision for the future, and helping them to achieve that vision is at the heart of what Aldermore seeks to do.”