The package – including working capital – will help the business drive European growth through its office in the Netherlands, which has been propelled by a recent increase in sales.
Currently, about 20% of its sales come from its overseas exports, which it plans to double over the next three years.
Kevin Beer, Millbrook Dairy co-owner and director, said: “We are delighted to be working with Santander UK as our banking partner as we embark on the next exciting phase in our journey.
Amplify and accelerate growth
“The £4m funding package it has provided will enable us to amplify and accelerate our growth, allowing us to expand our range, volumes and market reach both domestically and in our export markets overseas.”
Millbrook Dairy is a wholesaler of cheese and butter, sourcing products from across the UK, Ireland and Australasia.
Its cheeses include cheddar, Red Leicester, Double Gloucester, Wensleydale, Cheshire, reduced fat, high protein, Gouda, Edam and mozzarella which it sells to specialists, manufacturers and retailers in the UK and Europe. It also sells its own brand of Scottish cheddar, 1057, and Irish cheddar, Seanachai.
Next phase
Steve Tyers, relationship director at Santander UK, added: “We are proud to have become Millbrook Dairy’s banking partner, supporting the next phase of its growth strategy.
“Our funding package will help this entrepreneurial business expand further in the European and UK markets and we look forward to working together to deliver growth globally.”
Millbrook Dairy has also recently expanded into the trade butter sector, focusing on key areas of the market including butter portions for the ‘fine dining on the go’ market for airlines, railways and cruise liners and bulk butter for bakeries, patisseries, food service and manufacturing sectors.
Meanwhile, Moy Park, the poultry processor, together with a consortium of UK manufacturers from other sectors, has secured £4m in match funding to progress research into sustainable smart factory projects.