Signature Flatbreads, Eid Brothers

Signature Flatbreads’ Charles and William Eid

Private label bakery Signature Flatbreads is to create 100 jobs after securing a £10m working capital facility.

The Dunstable-based manufacturer is creating the new roles to meet soaring demand driven by increasing popularity for international products, such as tortillas.

Sales jumped 17% over the past year, the company said, with working capital and a recruitment drive needed to upscale production.

The supplier, which secured the funding from Lloyds Bank Commercial Banking, is back under family control after a deal was struck in March 2018 to buy out joint venture partner Swiss-Irish bakery giant Aryzta.

It supplies flatbreads, naans and tortilla wraps to supermarkets and currently employs around 1,000 staff across seven production sites in Dunstable, Kent.

In its most recent accounts for the year ending 31 July 2017, Signature recorded sales of £107.3m and a pre-tax profit of £2.3m.

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“We’ve seen increased demand for our products over the past five years, as people move away from traditional lunch options in favour of tastier, lower calorie alternatives,” said group CFO, Duncan Gray.

“Investing in our staff will help us to meet this rising demand, as well as providing us with the additional capacity needed to develop new products.

“Having access to working capital facilities has given us the headspace needed to focus on our expansion.”

Derek Neill, relationship director at Lloyds Bank Commercial Banking, said: “Signature Flatbreads is a significant contributor to the regional economy, and in the past year alone it’s created more than 100 jobs for people in the local area.

“Over the next 12 months the firm has committed to making significant investments to boost its productivity, pledging millions to help meet the rising demand for high-quality, British-made products.”