Cooplands secures £7.7m BGF investment to expand

Bakery chain Cooplands has secured a £7.7m investment from the Business Growth Fund (BGF) to finance its expansion.

Cooplands was founded in 1885 and is based in the north of England.

Since BGF's initial £8.5m investment three years ago, the business has grown to more than 165 stores, 12 cafés and 36 sandwich vans.

It has opened seven bakeries since March this year and plans to launch an additional 30 sites a year in areas including South Yorkshire as well as further across the country.

"Even for a 135-year-old business, trading through this year has been unlike any other," said Paul Coopland, managing director at Cooplands.

"The company's resilience is testament to the quality of our products, the strength of our capable management team and the 1,650 brilliant people they lead to serve our customers in their own communities."

In 2019 Cooplands hired Belinda Youngs (pictured), a former marketing director at Morrisons and senior trading manager at Sainsbury's, as its chief executive.

Last year the company also sold 100% vegan bread and rolls, made without animal fats, dairy, eggs or honey.

"As we move into 2021, I look forward to the company realising the next stage of its growth ambitions," said Coopland.

BGF has previously backed restaurant businesses including Barburrito and Giggling Squid.