New owner raises finance for 300-year-old bakery
Kings Cliffe resident Tom Priestley and his wife Jo have purchased KC bakery, which is located on West Street and supplies dozens of local businesses. The purchase of the £450,000 bakery was supported by funding deal from NatWest.
The couple will replace existing owners Oliver and Karen O’Sullivan, who will retire after running the business for the last 35 years.
Tom will leave his job as a project leader for a food manufacturer to run the business. He hopes to combine the technical expertise he developed in his previous role, with the traditional baking methods for which KC Bakery is known. He will spend six months working alongside Oliver and Karen as part of the handover process, ensuring these traditions are upheld.
Housed in a Grade II listed building, KC Bakery, has been a part of the Kings Cliffe community since 1711. It is now a £300,000-a-year turnover business employing eight members of staff, which will increase to nine with the recruitment of a bakery assistant.
KC Bakery already works with more than 40 local businesses across the hospitality, education and retail sectors. Over the next three years Tom is looking to expand its order book and focus on increasing the bakery’s wholesale offering.
Tom said: “I often spoke with Jo about embarking on a career change and becoming my own boss, but I was never sure what I wanted to do. When I saw KC Bakery for sale and knowing how much the business is a part of the local community, I knew I had to go for it. With the support of Jo and the finance and advice from NatWest, I’m now about to start a new and exciting chapter in my professional life.”
NatWest business development manager Steven Darbyshire and Hilton Smyth Finance Limited supported the deal activity alongside Relationship Manager Paul Fox.
Paul said: “As soon as I met Tom, it was clear he had a passion for making KC Bakery a success. The finance we have provided has helped him purchase this historic business, which we hope will continue to be a part of the community for the next 300 years.”
Published: 29 November 2018