- Type of finance
- Business need
Growing a business
“The market in the UK is growing fast for the taste of our waffles and we already supply many outlets all over the UK. To be able to add this production capacity to the bakery, is an exciting and proud moment which will create a great foundation for the future."
Tregroes Waffles has been making waffles in west Wales for over 30 years. Kees Huysmans moved to Llandysul from the Netherlands and began producing the popular sweet Dutch treat. As the company is becoming employee owned, they borrowed six figures from the European Regional Development and Welsh Government backed Wales Business Fund, managed by the Development Bank of Wales, to buy new equipment in summer 2019.
The new machinery allowed the company to increase production going from making 4,000 waffles an hour to more than 10,000 waffles an hour by late 2020.
The investment helped secure the jobs of 18 existing staff as well as allowing Tregoes Waffles to meet demand for their products from a number of new supermarket customers.
If you’re looking to transition to employee ownership, the Wales Co-operative Centre has a team of specialist advisors who can manage the whole process for you. Visit their website to learn more.