Stokes Sauces, based in Rendlesham, nr Woodbridge, Suffolk are investing in a new automated production line to enable them to keep up with growing sales. The line has been financed with a loan from the East of England Regional Growth Loan Scheme (RGLS), managed by The FSE Group (formerly Finance South East).
Stokes Sauces manufactures and distributes a range of specialist food products. This range includes finest quality mayonnaises, sauces, mustards, relishes, chutneys, dressings, jams & marmalades under the company’s core own brands – Stokes and Suffolk Mud.
The RGLS loan will be used to fund a capital expenditure programme to achieve significant productivity gains and enable expansion of production capacity to meet rising demand for their products.
Stokes Sauces utilise traditional recipes and the majority of the raw materials are sourced from suppliers within a 50 mile radius of their production facility in South Suffolk. The founder, Rick Sheepshanks, has extensive experience in the food manufacturing sector.
Stokes Sauces have been listed by a number of major multiple food retailers (Tesco, Sainsbury’s and Waitrose) and continue to serve the independent trade where East Anglia remains their strongest market.
Chris Reeve, Finance Director at Stoke Sauces said, “Finance is key in allowing any business to grow and working with Finance East has moved us forward significantly in production efficiency and capacity. We are now anticipating yet another year of growth with more production, greater exports and increased local employment.”
Stuart Ager, Senior Fund Manager at The FSE Group, commented, “Stokes Sauces has an experienced management team and with a long established reputation for quality products. The growth in demand for their products is based on the use of popular traditional recipes and locally produced raw materials. The company has a well spread and growing customer base and the interest from the food multiples reflects the management’s emphasis on quality. The funding provided will enable the company to meet expanding demand and I am confident Stokes Sauces will achieve significant growth in turnover and employment over the next few years”
Stuart Ager, Senior Fund Manager
The FSE Group
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