Follow-on investment is a recipe for success for Enjays
A leading supplier of waffles, pancakes and crepes to the UK foodservice market is preparing for the next stage of growth, backed by a follow-on investment from Finance Yorkshire.
From modest beginnings in 2005 as a creperie in Headingley, Enjays Pancakes has grown to become the UK’s leading manufacturer of waffles and pancakes.
The Leeds based business has more than doubled its turnover during the last 18 months and has now secured a £300,000 Finance Yorkshire investment.
It follows an initial investment of £350,000 in 2013, which allowed Enjays to broaden its product range and create new jobs.
This most recent investment will enable the business to further develop its infrastructure, including sales, marketing and branding resource, alongside capital investment in the factory to increase throughput, in order to allow for considerable growth forecast over the next 12 months.
Much of Enjays’ current growth is down to the creation of targeted products for the foodservice sector, particularly a reduced sugar range which is proving very popular with schools, colleges and the healthcare sector. The business has also recently introduced its Waffletops brand, a range of coated topped waffles aimed at the coffee sector as an alternative to muffins and cookies.
Managing Director Jon White said: “In the last 18 months, we have more than doubled our turnover and we are aiming to achieve the same level of growth within the foodservice sector over the coming 12 months.
“Once again, the capital from Finance Yorkshire comes at a crucial time for Enjays and it will allow us to put the infrastructure in place to faciliate that level of growth. We produce everything within the UK and our core strengths now span the pancake and waffle category, which means we have a compelling offering for customers across the foodservice and retail markets.”
Finance Yorkshire’s Portfolio Director Ian Brown said: “The growth at Enjays since our previous investment is testament to the passion and commitment of the management team and we have every confidence in their future success.
“They have cleverly tapped into the needs of certain foodservice customers with sector-specific products such as the reduced-sugar range, and with the infrastructure in place to support their continued growth, the sky is the limit.”
To date, Finance Yorkshire has invested over £105 million in Yorkshire and Humber, enabling companies to increase their turnover by £377 million and attract a further £273 million from other private sector sources. Through this activity, Finance Yorkshire investment has helped those SMEs to create and safeguard more than 11,000 jobs in the region.
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The project is supported financially by the European Union. It has attracted investment from the European Regional Development Fund (ERDF), as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, UK Government and the European Investment Bank. Finance Yorkshire is also supported by the Regional Growth Fund.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire