Pasty Presto has secured a funding package to expand its chain of Cornish pasty shops outside of its South West heartland.
The 28-strong company, which recently opened it most northernly-located site in Windemere, Cumbria, has secured c£450k from Clydesdale Bank’s Business and Private Banking Centre in Gloucester to open two new stores.
It opened its latest site in Fowey, Cornwall, earlier this month.
Founder Steve Grocutt said: “Pasty Presto is a well-known name in the West Country and we’re delighted to be in a position to move forward with the expansion plans and open a new shop in Fowey. Our shops are predominantly located in high end tourist locations and we’re extremely excited about opening our first shop in the Lake District, which is a natural fit for the business.
“After what has been a tough market over the last couple of years, trading conditions have picked up again recently, and with summer approaching, the new openings and winning the award for the World’s Best Cornish Pasty, it’s been a great period and we are well-placed to kick on and continue our expansion plans.”
John Cary, relationship manager at Clydesdale Bank’s Business and Private Banking Centre in Gloucester, added: “Pasty Presto has established a strong reputation across the South West and a number of successful shops in the South West, Midlands and at motorway service stations.
“The opening of a new store in Fowey and its move into the Lake District is exciting news for the business and Clydesdale Bank is proud to have provided funding to support this venture.”
