Caerphilly-based packaging company Transcend Packaging has secured a £6 million facility from alternative lender Growth Lending.
The funding will provide the business with the working capital to expand internationally into new markets and reach new global brands. It will also support the firm’s continuous investment into innovation and product development.
The business, which operates out of South Wales and Italy, provides a range of sustainable packaging products which are either recyclable or compostable. Transcend is the producer of paper straws in the UK and across Europe and provides these and other items, such as drink cups, to global brands including McDonald’s, KFC and Starbucks.
Vicki Taylor, principal at Growth Lending, said, ‘Transcend is a leading innovator in the sustainable packaging space and we are pleased to be supporting the business with its mission. Our funding comes after a period of impressive growth, and we very much look forward to watching them go from strength to strength.’
Justin Bailes, director at Transcend Packaging said, ‘It’s been a pleasure working with the Growth Lending team, who have gone above and beyond to ensure we have a bespoke funding facility that meets our specific needs. It’s an extremely exciting time for the business following a series of award wins, and this funding will enable us to continue assisting leading international brands as they transition their packaging portfolios away from single-use plastic by providing high-quality alternative packaging.’
