Solihull-based Budge Brands Ltd, brand owner of Premier Estates Wine, has purchased a new head office in Birmingham’s Jewellery Quarter after receiving a funding package worth over £1.5 million from Santander Corporate & Commercial.
Established in 2005 and owned by Budge Dhariwal, Budge Brands was developed to fill a gap in the market for a range of branded wines at everyday prices. Premier Estates Wine is now a multi-award-winning brand stocked in thousands of retail outlets and some of the largest wholesalers throughout the UK. Budge Brands turnover for 2016 is expected to rise to £20 million and this is expected to continue on an upwards curve.
The £1.5 million funding provided by Santander Corporate & Commercial has allowed Budge Brands to purchase a new head office location in Birmingham’s Jewellery Quarter. The Grade 2 listed historic Birmingham Mint Building will be their new headquarters from August 2016. The location of the property brings the business closer to Birmingham city centre, which is hoped will attract new talent to drive the business forward.
Budge Dhariwal attended one of Santander’s trade missions in 2015, to Boston, USA, and as a result of this, Budge Brands has now entered the US market following a number of successful trade shows in Las Vegas and Boston. The business is also working with Santander to access the Chinese market, which is viewed as a rapidly expanding opportunity.
Budge Dhariwal, Director, Budge Brands, said: "Since becoming a client of Santander Corporate & Commercial in 2014, the bank has helped us enormously, both with the day to day business and with future growth opportunities. The trade mission in particular was an invaluable experience and we have now entered the US market as a direct result of it."
Andrew Bullock, Relationship Director, Santander Corporate & Commercial, said: "It is great that Santander has been able to use our international expertise to help Budge Brands expand internationally. Getting UK firms to export is a key priority for Santander and Budge Brands is a great example of a business that has benefited from international trade. The firm has successfully carved out a niche for itself in the UK and the purchase of this new property, along with its focused export strategy, will see this business go from strength to strength."
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Notes to editors
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