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Leading food distributor expands following Lloyds Bank investment PDF Print E-mail
Friday, 17 April 2015

Carmarthenshire-based chilled food distributor, NR Evans, has completed a significant expansion with the support of a £3million lending facility from Lloyds Bank, with the creation of more than 60 new jobs.

Through the funding package, the firm has purchased 18 new HGVs, together with 15 refrigerated trailers, growing its fleet to more than 200 vehicles. This has been achieved thanks to a hire purchase facility provided by the bank’s Commercial Finance team, allowing the business to pay off the full amount for the vehicles without impacting on its cashflow.

The investment has enabled the firm to take on more and bigger contracts, and the new jobs created have seen its total workforce increase to more than 400 members of staff.


One of the biggest temperature controlled distribution companies in the UK, NR Evans delivers more than £500million of chilled product annually from seven operating centres located in Carmarthenshire, Anglesey and Newport, as well as in the West Midlands, Derbyshire, Bedford and Bridlington.
 
Neil Evans, Managing Director of NR Evans, said: “We’re pleased to have completed this latest stage of our growth plan, with the hire purchase facility from Lloyds Bank Commercial Finance allowing us to modernise and boost our fleet.
 
“As part of this, we’re proud to have created 60 new roles within our business throughout our seven operating centres, helping to support local employment in the regions in which we operate.”
 
Richard Stevenson, Senior Regional Manager at Lloyds Bank Commercial Finance, said: “We worked closely with NR Evans to provide the business with the right funding solution to help it facilitate its growth plans without impacting on its daily cashflow.
 
“We have a lot of experience in the sector and understand the need for businesses to operate a top of the range fleet, and look forward to working with the business to support its growth plans.”
 
Paul Williams, Relationship Director at Lloyds Bank Commercial Banking, said: “Growing, ambitious businesses like NR Evans with a clear plan for continued expansion are the driving force of the UK economy, and we’re proud to support companies like this as they create new jobs and invest in the future of their business.”

(Source - Lloyds Bank Press Release)

 

 

 
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