Welsh cake manufacturers, The Cake Crew is set to increase its production capacity to cope with increased demand for it products, having secured a £500k loan from Finance Wales.
Based in Bala, Gwynedd, this is the largest independent UK supplier of cupcakes. It makes cakes for Tesco, Sainsbury’s, Morrison’s, Aldi and the Co-op. The firm employs 240 people in the North Wales town.
Cake Crew Managing Director, Simon Faithfull said, “As a company we focus on quality and continuously improving the products we manufacture for our retail customers. Over the last few years we’ve seen substantial growth as our products have found favour with consumers and, as a result, new retail customers have come on board.
“The funding provided by Finance Wales is enabling us to expand, supporting employment and our contribution to the North Wales economy”.
Finance Wales Senior Investment Executive, Rhodri Evans said, “The Cake Crew are a great example of a local success story with the business having grown significantly over the last 3-4 years. We are delighted to be able to support them with their continued growth.”
The £500k loan has come from the Wales Business Fund, which has been part-funded by the European Regional Development Fund through the Welsh Government. The fund is designed to support small to medium-sized enterprises (SMES) based in Wales, and to deliver sustainable economic growth and jobs.