Tomlinson's Dairy receives £22m investment
Wrexham-based Tomlinson’s Dairies is creating 70 new jobs and expanding its cold storage facilities after securing a £22m co-investment from Finance Wales, Welsh Government and HSBC.
The funding included a £14.5m facility from HSBC, £5m from Welsh Government and £2m from Finance Wales, with the balance from company cash reserves.
Managing director, Philip Tomlinson, said: “We’re proud to be able to expand our operations in North Wales and create 70 new jobs for the local area following this investment.
“This is a great place to do business and we’re excited for the future.”
Tomlinson’s was established in 1983, when brothers Philip and John Tomlinson decided to diversify into liquid milk processing on their family farm in north Wales.
The firm has grown significantly over the years and is now the largest liquid milk processing business in Wales, turning over approximately £45m per annum.
It operates from a specialist dairy unit located near Wrexham and has recently secured a lucrative contract with supermarket giant Sainsbury’s.
Finance Wales senior investment executive Rhodri Evans said: “Tomlinson’s is a great north Wales business, it is well established and it offers a great product.
“We’re pleased to be able to support its expansion and help it attract significant private sector investment to the company. I wish Philip and the team every success for the future.”
Tony Fulton of HSBC, added: “We are proud to have worked together with Finance Wales and the Welsh Government to support this dynamic Welsh business.
“Tomlinson’s Dairies is a new HSBC customer and our team, led by relationship director Simon Pearson, has worked hard to provide a tailored funding package that supports the business’s long-term growth plans.
“Tomlinson’s is a great regional success story and we look forward to supporting the business as it creates local jobs, meets strong customer demand and increases its market share nationwide.”
Finance Wales’ funding came from the Wales Business Fund, a European Regional Development Fund and Welsh Government-backed £136m fund.