Helping to manufacture a finance solution
Funding for 'free from' desserts
At a glance:
- Exclusive new contract with Sainsbury’s
- Audit of business from Sainsbury’s meant large one off costs to match contractual requirements
- Upfront costs to cover research and development to secure contract
- Seasonal nature of business means short term cash flow needed
10 years ago Alastair Jessel established Taywell Ice creams in Tonbridge, Kent. Having run several businesses including a farm, Alastair was looking to find a use for the surplus harvest he had from his agriculture business. With a passion for ice cream and for organic, fresh and additive free foods, he decided to take his own product and make it into something he and his family would enjoy and Taywell Ice Creams was born.
With Taywell building an early reputation with its ‘real’ diary ice cream and its commitment to sourcing and purchasing local products to make its ice cream, the Taywell team started to research and develop products which catered for consumers with allergens. Alastair and his team have spent the last 3 years developing a ‘free from’ range which covers all 14 major allergens. This product development brought them to the attention of Sainsbury’s who approached Taywell with a contract to supply the supermarket and help develop a new own branded ‘free from’ range of iced desserts.
Small & Local to Large and National
With this new partnership, Taywell’s status from a small and local supplier changes dramatically to a large and national supplier. With this development comes the requirement to satisfy Sainsbury that Alastair and the team can produce the volumes Sainsbury require and a 6 month audit has been undertaken across the business to ensure delivery of the contractual obligations and to fully ensure that all the products in the range are truly ‘free from’ .
By using the confirmed order and contract from Sainsbury’s Alastair has been able to fund the audit and deliver all the requirements for manufacturing the new product lines. The finance has been pivotal for him and has allowed him to commit fully to Sainsbury’s. With a 2 year exclusivity deal Alastair and the business are at the very start of their partnership and this will potentially double their current turnover and although there are some risks involved ultimately it’s is a fantastic opportunity which will enable the business to move up to the next level.