Finance Wales wraps up fourth investment for leading packaging company Chevler
The UK’s leading manufacturers of baking cases and tulip muffin
wraps is continuing to expand with the backing of a £75,000 loan
from Finance Wales.
The loan, which is Finance Wales’ fourth investment in the
Hengoed-based company, has enabled it to improve its supply chain
to cope with growing demand.
Chevler has invested heavily in innovation as part of its growth
strategy in recent years, enabling it to diversify and introduce
new product lines. Earlier this year the company acquired
Cardiff-based environmentally friendly food packaging company,
Lovely Packaging as part of its diversification drive.
Finance Wales has invested £835,000 in Chevler since its first
investment in 2009 - a £525,000 equity investment which funded a
buy-out by the current management team. Two subsequent debt
investments in 2010 and 11 backed its continued expansion.
“Being innovative and bringing new products to market has been
crucial to our success. We developed and introduced the
muffin wrap which helped increase sales of individual cakes in
coffee shops, for instance. This has helped us become UK
market leader and also to increase our presence in Europe and the
United States,” explained Managing Director, Stuart Whelan.
“Finance Wales’ long-term backing has been instrumental in
helping us build our product range and grow our market share.
Using Finance Wales’ latest investment we’ve been able to reshape
our supply chain to maximise our purchasing power. We’re now
supplying customer orders much more quickly.”
Chevler’s range currently includes over six hundred different
food packaging products and it can also manufacture individual
designs to order.
Today the company has over 220 clients throughout the UK, Europe
and the United States, including many of the UK’s largest baked
goods manufacturers and retailers.
“Innovation is at the heart of Chevler’s success. Since
they took over the business in 2009, the new management team has
had a clear growth strategy which has resulted in the extensive
range it now offers. They’ve also secured numerous new
contracts by focusing on developing new products closely targeted
at markets with significant potential,” explained Finance Wales
Portfolio Executive, Steve Elias.
“Finance Wales is pleased to continue backing Chevler as it
implements the latest phase of its expansion plan. The
company now has a comprehensive range of products and our latest
investment is helping Chevler optimise its supply chain, improve
its procurement processes and purchase the stock it needs to
satisfy increased order volumes in a timely and cost effective
Finance Wales’ investment came from the £150 million Wales