The Protein Works bulks up with bank deal
A sports nutrition group has clinched a six-figure funding arrangement to support its expansion plans.
The cash from Yorkshire Bank will allow Runcorn-based The Protein Works to fit out additional premises to meet demand and allow it to expand its product range.
Founded in August 2012 by Mark Coxhead, Nick Smith and Karl Jacobie, the company now employs 40 staff and is expecting its turnover for its current financial year to be more than £6m.
About 95 per cent of its sales are through its website but it also has a growing trade channel in the UK and sells products in independent shops and gyms.
It also launched a French site in September and has secured sales from countries such as Iceland and India.
Coxhead said: "The investment from the bank has given us the opportunity to be more innovative and to push the boundaries of our product range even more.
"When we first started out we had 12,000 sq ft of warehouse. We've since expanded and taken on the warehouse next door. This has allowed us to effectively treble in size to a space of around 40,000 sq ft.
"Support from Yorkshire Bank has helped massively to compete with big players in the sector."
Simon King, business development manager at Yorkshire Bank, added: "The Protein Works has gone from strength to strength since launching just over two years ago and is among the fastest growing sports nutrition brands in the UK.
"The directors are all well established in the sports nutrition field and each have a wide range of complementary skills, all of which continue to see the business exceed expectations."
Picture caption left to right: Mark Coxhead, Karl Jacobie and Nick Smith of The Protein Works pictured with Simon King of the Yorkshire Bank