Bristol-based supplier Pieminister has secured a four-acre site in Westbury on Trym with the help of a seven-figure funding package from HSBC Commercial Bank.
The site is already home to the company’s kitchens and the acquisition will enable Pieminister to extend its premises and expand production.
It reverses a possible production move to South Wales, safeguarding over 70 jobs in Bristol and creating future employment opportunities for the region, the bank said.
Pieminister produces over 5 million pies a year at the 18,000 sq ft kitchen facilities and plans to double production over the next three years.
“This is a young, ambitious company that has set its sight on significant growth and is the type of business that HSBC is keen to support,” said HSBC commercial manager Marc Talbot.
Annual sales of Pieminister have risen by 25% year-on-year to about £9m a year and the company hopes to at least double that over the next three years.
Earlier this month, The Grocer revealed the relaunch of Pieminister’s pie range with new flavours and packaging as it looked to take on chilled ready meals.
New pies include: The Deer Stalker, which it claims is the first venison pie in mainstream retail and will be exclusive to Waitrose among major multiples Peahock, exclusive to Sainsbury’s and Fungi Chicken Pie, exclusive to Tesco. The Free Ranger, which contains free range chicken, is also new.
The company also hopes to expand its pie shop estate with a new branch in Manchester later this year.