Brace’s Bakery has invested £4m in a new production line with the support of a £2.5m finance package from HSBC UK and HSBC Equipment Finance.
The new production line will allow the fourth-generation business based in the Eastern Valleys of South Wales to produce up to 16,000 rolls an hour, expanding on the 1m products produced for supermarkets and shops in the region.
Commenting on the investment, director Jonathon Brace said: “Since installing the new production line, we are now in a position to expand our volumes and offer a wider range of roll products to include tea cakes.
“We’re thankful to Sian Williams and Scott Ritchie at HSBC UK for their continued support in the expansion of our business and for making the process as seamless as possible for us. Since the production line was installed in January up until Easter, we managed to produce nearly 2m packs of six hot cross buns.”
Operating since 1902, Brace’s Bakery supplies to all major supermarkets in South Wales and the West of England with its own brand of bakery products. It hoped the investment would allow the brand to expand into new markets.
Simon France, deputy head of HSBC Equipment Finance (UK), added: “We’re delighted to support such a well-respected home-grown business that has become Wales’s favourite bakery. It’s great to see Jonathan and his team expanding the business to produce a wider range of products and we’re excited to see the business continue to flourish.”