Banbury: Stewart Group to expand following £11m funding from Santander

Banbury-based Stewart Group (Stewart), the British manufacturer and distributor of gardening products, catering supplies, homewares and bespoke technical solutions, is set for significant expansion and growth following an £11 million funding deal with Santander Corporate & Commercial.

Stewart was advised throughout the deal by Leamington Spa-based law firm Wright Hassall.

Stewart’s key business channels are garden centres, DIY outlets, major retailers and trade, the latter encompassing housewares, catering and technical solutions. The firm reported a 25% growth in business in the 2014 financial year and, having secured the £11 million in funding from Santander Corporate & Commercial, plans are now in place to support the company in further strengthening its brand leader position by driving growth via additional manufacturing capacity and launching a strong pipeline of new product introductions.

Market share gains have been achieved through category management techniques, which have allowed Stewart to be present in over 1,600 outlets across the UK and Eire. These include DIY outlets such as Homebase, Wilkinson and B&Q and garden centres such as Dobbies and Klondyke/Strikes, Wyevale and over 600 independent garden centres.

Stewart manufactures 95% of its products within the UK and is proud to be a strong contributor to both the local Banbury economy and playing its part in the resurgence of UK-based manufacturing companies.

Established in 1945, Stewart is now in its third year at its state-of-the art Banbury manufacturing facility which followed a £15 million investor buyout supported by ECI Partners in 2012-13.

Andy Burns, managing director of Stewart Group, said: “Stewart is a true UK manufacturing success story and we have strong aspirations for the future. We have a robust growth strategy in place, and the funding and support from Santander and Wright Hassall will be instrumental in helping us implement this comprehensive plan across our core sectors.”

Steve Bateman, relationship director, Santander Corporate & Commercial, said: “We’re delighted to be working with such a well-known and high-profile brand. The company’s facility in Banbury is one of the largest and most efficient plants in Europe, and it is clear that the firm’s products are winning over an increasing number of clients.”