A leading supplier of eco-friendly promotional bags and clothing is expanding with the help of a multi-million pound grant.
The £13 million a year turnover Direct Trade Bags, based in Crown Business Park, in Old Dalby, has used some of the funding to complete an acquisition of rival firm Direct Textiles.
In addition, the business has concluded the development of a new embroidery and storage unit at the Old Dalby site, increasing the size of the group’s premises to more than 70,000 sq ft.
The funding package, which was secured from Barclays, has also provided the working capital support to help deliver the company’s growth plans.
Greg Towne, chairman of the company, which produces more than one million bags and 300,000 t-shirts per month, said: “Having identified a niche in the market for UK based production and service, and to support the need for high capacity, quick delivery printing of promotional items such as t-shirts and bags, we have set up a business that has gone from strength to strength, and has achieved year on year growth, as well as creating lots of job opportunities for local people.
“The support of Barclays has ensured we have achieved sustainable growth which holds the business in good stead for future growth.
Direct Trade Bags was created 10 years ago and employs 160 people. It specialises in the decoration of t-shirts, garments and promotional bags.
Ashley Hallam, relationship director at Barclays, said: “Direct Trade Bags has enjoyed tremendous growth since 2008.
“I am delighted we are able to support Greg and his team in the latest phase of their development.”