L-r Peter Rooney of Mercia, Chris Baldwin of Sugden & Cllr Michael Green
A Lancashire factory, which creates English Muffin-making machines for export markets around the world, is expanding into new premises with the help of a £600,000 loan from Lancashire Rosebud Finance, which is managed by Mercia Fund Managers.
The funding will allow Sugden to move from its current factory in Barrowford to a purpose-built 35,000 sq ft unit at the nearby Pendle Court development alongside the M65. The move is expected to create 10 new jobs.
Established in 1972, Sugden is a world leader in hotplate lines, which are used to make traditional English products such as English Muffins, Crumpets, Pancakes and Potato Cakes.
In 2014 following the death of its co-founder, Sugden was acquired by Chris Baldwin of Baldwin Technical Services Ltd with the help of a Rosebud Loan. Baldwin Technical Services provides electrical engineering services to the food industry and worked closely with Sugden to install its machinery lines.
The group now employs over 60 staff at the Sugden factory and at Baldwin’s site in Heywood. The new premises will provide additional space for Sugden and will act as group headquarters.
Chris Baldwin, Managing Director of Sugden, said: “Without the financial help from Rosebud, the move to the new site for Sugden would be delayed by at least two years, which would have compromised further orders that are in the pipeline from all over the world. We need the space and flexibility that the new site will bring to our company. We would like to thank Rosebud and RBS for their continuing support.”
Rosebud Finance is managed by Mercia Fund Managers on behalf of Lancashire County Developments Ltd (LCDL), the County Council’s development arm.
Peter Rooney, Investment Manager with Mercia, said: “The acquisition of Sugden has proved to be a sound decision for both sides. The two companies had long worked closely together and with the assistance of Rosebud, since then they have outperformed the original forecasts and gone from strength to strength. However the size of the Barrowford premises is now holding back further growth. This latest Rosebud funding will allow the group to take the next step in its development and move to larger, purpose-built premises.”
County Councillor Michael Green, Cabinet member for economic development, environment and planning, said: "We are proud that Rosebud supports companies by providing them with tailored support to grow and develop. Sugdens are a good example of why we do this.
"For many years, we've supported companies across Lancashire, creating new jobs and boosting the county economy.
"Sugdens came to us originally to bring the two businesses together, and thanks to the success they've already had, they're now looking to grow even further with their new premises.
"It's an exciting time for Chris and his team as they start the next chapter, and we're looking forward to seeing the next stage of their growth journey."