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Bents Garden & Home secures funding for expansion

FAMILY-owned North West garden centre business Bents Garden & Home has agreed an £8m funding line to support its ongoing expansion.

The Warrington company's term loan with Barclays will help fund a two storey extension providing new office and warehousing and an additional 58,000 sq ft of retail space.

Bents' roots began in Glazebury in the 1930s when Alfred and Margaret Bent began growing roses in the front garden of their terraced house. Today it has more than 300 staff with an annual turnover of £14m and rising - revenue is expected to rise 8% in the current financial year.

Since 2001 the third generation of the Bents family - Matthew, Rachel, Helen and Katherine - have run the business.

The new funding represents the start of a new and ambitious 10 year development plan to transform the site into a major retail and leisure destination.

Managing director Matthew Bent said: “The bank’s support is an endorsement of our strategy and illustrates both the strength of our balance sheet and the quality of our asset base. The team at Barclays shares our massive enthusiasm and is keen to support our future growth plans.”

The new facility was arranged by Giles Barton, relationship director in Liverpool, who said:"Bents is a third generation family business steeped in history and this deal represents considerable funding support to a long-standing and valued client.

“The business has been well-run by successive generations, and under Matthew’s stewardship is now ideally positioned to continue on its growth track over the coming years."

Source : Chris Barry - The Business Desk

14 February 2014
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