Croydon-based Seven Stars Cash & Carry is expanding its operation with support from a six-figure funding package from Lloyds Bank.
Seven Stars supplies over 1,000 restaurants, takeaways, supermarkets and food and drink wholesalers across the UK.
With its sights set on growth, the firm approached Lloyds Bank to secure funding to add three new delivery vehicles to its fleet and expand its chilled storage space at its distribution centre.
Over the last 12 months, the volume of products that Seven Stars stocks has risen by 30% to 1,300. It now expects the investment to help it increase turnover by 50% this year, and it is planning to bolster this by adding 10 new staff to its 15-strong team.
Established in 2018, the business started with just a £36 investment, selling eggs and bread to local cafés. Since then, Seven Stars has expanded rapidly. Business has increased in part due to a surge in demand from national restaurant and takeaway businesses as consumers increasingly opt for deliveries to dine at home.
The wholesaler is now also planning to stock more plant-based foods in response to changing consumer demand, as fast-food outlets improve their offering for those with vegan diets.
Naveed Ahmad, director at Seven Stars, said: “At Seven Stars, we strive to always make sure that our products and service are of the highest quality. Lloyds Bank’s backing means that that remains a priority, and we’re able to expand our offering to meet the needs of restaurants, takeaways and food retailers all over the country.
“It’s important that we’re constantly growing and evolving, because that’s what consumers’ tastes do. We can now stock ingredients for new flavours and products, which will ultimately help the businesses we supply – and us – grow.”
Stephen Clements, regional director at Lloyds Bank, added: “Popularity for rapid delivery services has surged in recent years and it’s been a successful time for many restaurants that have capitalised on this. But that’s only been made possible by trusted, reliable suppliers like Seven Stars and its growth is testament to how it delivers on this.
“It’s crucial that businesses are able to adapt to trends and meet customers’ demands. Seven Stars is an excellent example of this and we’ll continue to be by their side as they grow and expand.”
Published Date: June 15, 2023