Tamworth-based The Malted Waffle Company, the UK’s leading waffle machine and waffle-based food product manufacturer, has secured funding from Santander Business Banking to help it start to export into international markets including Europe and the United Arab Emirates. The business is looking to capitalise on the strong momentum it has in the UK to expand overseas and capture new growth opportunities.
The family run business achieved 33% year-on-year growth between 2016 and 2017. The business is looking to increase this growth over the next five years by focusing on driving sales both domestically and internationally and increasing the leasing of waffle machines to the hospitality industry to grow sales of waffle mixture.
The Malted Waffle Company was first established in 1986 as a distributor of waffle products for a US company. In the early 1990’s the company began manufacturing in the UK market and has since built up a strong rapport with its customers, which now include top hotels and major restaurants, as well as the hospitality industry, local cafes and guest houses.
Additional support from Santander Business Banking has included attendance at Santander’s Breakthrough events, where The Malted Waffle Company showcased its products to relevant stakeholders and prospects, and access to Santander’s co-funded intern programme. The company currently employs 11 staff and is looking to increase its employee base to accommodate increased sales in the UK and overseas.
Georges Barret, Founder, The Malted Waffle Company, said: “Now that we are established in the UK, we want to set our sights overseas. In the short term, this means targeting Ireland, Spain, France and the UAE; longer term I want our aspirations to be global. We have developed a great business supported by a strong business model and top quality products, and we truly believe we can grow in new markets. The funding and insights from Santander have been instrumental in opening up this opportunity.”
Chirag Mistry, Relationship Director, Santander Business Banking said: “The Malted Waffle Company is a very strong business and we are proud to be able to help it meet growth targets for the years ahead. George and Laura make a fantastic management team and we look forward to supporting them in their aspirations to becoming not just the UK’s leading supplier of waffle irons and products, but the world’s.”
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Notes to editors
For media enquiries regarding The Malted Waffle Company please contact:
Laura Barrett T: 01213086040 E: firstname.lastname@example.org
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