Bibby Financial Services (BFS) has provided a £5m funding facility to Hider Food Imports Ltd, a wholesale food supplier based in Hull.
The family-run business, which began trading in 1965, imports fine foods to its UK based customers. The company specialises in nuts, dried fruits and other fine foods including Hazer Baba Turkish Delight, Bavarian Organic Breads and seasonal Christmas Stollen.
Hider Food Imports has a wholesale, retail and ingredients division and supplies to many well-known retailers. The business has recently launched a new offering that allows retailers to offer all of the company’s two-thousand products to their customers for delivery direct to the end consumers home, even if they are only able to stock a limited number in store. The business is also involved in the manufacture of its nut products, including drying, roasting, salting, flavouring and packing.
BFS’ corporate team in the North were introduced to Hider Food Imports Ltd by the company’s financial advisors. From here, BFS and Hider Food worked together closely to quickly structure a deal that met the financing needs of the business. The £5m funding facility will help the business pursue its ambitious growth plans, while providing the flexibility the company needs to thrive.
Duncan Hider, Managing Director, Hider Food Imports Ltd. commented: “As a long-standing family business, we have a firm footing in the market and a well-established customer base. This fresh injection of finance will enable us to focus on fulfilling our customers’ orders and work to expand our offering.
“The BFS team responded very quickly and were able to work with our advisors to structure a funding facility that met our specific needs.”
David McIntyre, Corporate Manager at Bibby Financial Services, said: “Hider Food Imports Ltd is a well-known and long established importer in the region with a strong heritage in Hull. We’re very happy to have been able to provide Duncan and the team with the funding they needed within what was a tight timescale. We look forward to working with the management team as they grow the business.”