JLM Global Foods commercial director Daniel Moore

Source: JLM Global Foods

JLM Global Foods commercial director Daniel Moore

Private label snack maker JLM Global Foods has secured a £7.5m financial package to support expansion plans.

Following a £1m injection by company directors, lender Leumi ABL provided a multi asset-based lending facility, consisting of invoice finance, plant and machinery finance, inventory finance and a term loan with a limit of £4.4m.

The backing will enable the Darlington-based business to increase its manufacturing capacity, research and development capabilities and serve more customers across the world.

“Our team is focused on quality, innovation, speed to market, servicing our customers’ needs and meeting the growing demand for healthier snacks,” said commercial director Daniel Moore.

“It’s important that we continue to develop and innovate our product range and the support of Leumi ABL will take the business to the next level, and beyond.”

JLM is an independently owned contract manufacturer, supplying customers, including multinational brands and international supermarket groups, with ‘better-for-you’ snacks.

Director Mark Thompson added: “The company is already a significant exporter and has ambitious plans to expand further in global markets, including Europe and the US.

“Leumi ABL has shown confidence in the business, and with an additional planned investment of over £2m in state-of-the-art machinery in the coming months, the directors will ensure that the total investment package of £7.5m will continue to create jobs in Darlington and play a part in the renaissance of the town.”

JLM Global Foods was advised by Hill Dickinson.