THE GROWTH plans of a luxury soap and fragrance business have received a significant boost after it secured a £850,000 funding facility.
H Bronnley & Co UK supplies a range of high-quality soaps and fragrances. The firm was founded in 1884 and its reputation for luxurious and innovative products led to the business being awarded a Royal Warrant by King George VI, a warrant the company still holds today.
It is planning a new product development programme and a campaign to grow its user base. Now then plans are moving forward apace after H Bronnley & Co, whose headquarters are in Milton Keynes, secured the funding facility from Bibby Financial Services.
The facility structured by the BFS corporate team includes trade finance support, which will help to bridge the cashflow gap between buying from suppliers and receiving payment from customers.
The funding will also allow the business to generate increased revenues from the UK and overseas to satisfy the increased demand for soap and hand wash.
H Bronnley & Co director Jon Osborne said: “As a business with a heritage going back over 135 years, we wanted to partner with a funder that would take the time to get to know our business and understand our ethos.
“We have been impressed with the expertise and attention to detail BFS has shown to our business, and the funding they have provided is equipped to help us implement our global business strategy while preserving our cashflow.”
The Bronnley brand operates within the thriving health and beauty market, with the soap category particularly benefiting from recent changes in consumer behaviour around the world. The brand is sold in pharmacies, beauty stores and garden centres.
BFS corporate manager Luke Fitzsimmons said: “H Bronnley & Co is a great business but with a sizeable supply chain, and with so many international clients, it can be difficult to manage cash flow while also looking to grow and thrive. Trade finance allows a business to focus on the long-term.
“Despite these challenging times, BFS remains very much open for business and is committed to supporting SMEs. We are very happy to be supporting H Bronnley & Co on the next stage of their growth.”
by ANDREW GIBBS e: news@businessmk.co.uk
