A six-figure investment from the Development Bank of Wales will enable a waffle company to expand its current production to meet the demands of a national retailer.
Tregroes Waffles, founded in Llandysul by Kees Huysmans, has been baking delicious waffles for Wales and beyond for over 30 years.
Kees, originally from Holland, moved to Wales to become a farmer. He learnt Welsh and threw himself into community life in Tregroes and baked his waffles to sell at markets.
The waffles were a hit and more than 30 years later, Kees is running his successful company and demand for his products is on the rise.
The loan has allowed Tregroes to acquire an additional waffle production line, which was purchased overseas and refurbished in Holland before being delivered to its new home at the West Wales bakery.
Currently, the business is producing 4,000 waffles per hour. This new piece of machinery will allow them to at least double this rate.
Tregroes are also excited that the machine will allow them to make different sized waffles, which will come into production late 2020.
By increasing production levels, the funding will help the company meet the strong and growing demand for its waffles, ensuring that more customers at supermarket chains and wholesalers can enjoy these treats.
The expansion will also secure local jobs in Llandysul where the company currently employs 18 people.
Founder Kees Huysmans said: “The market in the UK is growing fast for the taste of our waffles and we already supply many outlets all over the UK, including some very prestigious accounts in London and a number of national supermarket retailers. 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.
“The Development Bank has been extremely helpful during the application process and timely with accessing the funding. We are now preparing to get the new machinery into production early in the new year.”
Richard Easton, Portfolio Executive said: “Tregroes Waffles is a well-respected business with a growing national customer list. Quick access to finance was key to allow the company to purchase a bespoke piece of machinery to meet the fast-growing demands of new contracts.
“The Development Bank of Wales was created for businesses like Tregroes; to fund long-term growth finance as well as follow-on investment and additional working capital as the business grows.”
The funding came from the Wales Business Fund which is part-funded by the ERDF, through the Welsh Government. It was created specifically to support businesses with fewer than 250 employees based in Wales and those willing to move here.