Food & Drink

£1.6m to help rebrand and expand 'world's oldest pasty maker' Warrens Bakery

Warrens Bakery, the world's oldest pasty maker and oldest commercial bakery in Cornwall, has received £1.6m funding to rebrand and expand its retail activities in the West Country and beyond. Chairman Mark Sullivan plans to use the money to support the continued refurbishment and rebranding of existing outlets and expand the business with the development of new stores. The funding package from Santander's Breakthrough Programme is comprised of a Growth Capital facility of £1.6m, structured over a five-year term. Accountants Bishop Fleming provided due diligence on the transaction and law firm Thrings provided legal documentation on behalf of Santander. Sullivan said: 'The investment and strong personal support and involvement from Santander will help us to complete the next phase of growth, as we develop the brand and product range through our own stores, as well as with wholesale and retail customers.'

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