Major Peterborough employer looks to grow after £3m HQ purchase
A long-established beauty and lifestyle products manufacturer is looking to grow after the £3 million purchase of its Peterborough headquarters.
Creightons has just completed the deal on its manufacturing facilities and offices in Lincoln Road where it has been based since 2003, and employs 340 staff.
The company, which specialises in the sales, development, manufacture and distribution of beauty and wellbeing products, secured a £3 million commercial mortgage from HSBC UK to buy its premises from Oratorio Developments.
Renowned for brands such as Bambeautiful and Feather and Down, Creightons says the purchase will help increase its revenue and profits, and support its expansion plans in the UK and overseas.
Figures from the company show that since March 2018 it has enjoyed a 26 per cent growth in turnover - up from £34.8 million to £44 million.
It plans to grow key markets, including Europe and North America, over the next few years. It currently distributes its own brands and those manufactured for retailers to 40 countries.
Paul Forster, finance director, said: “It’s an incredibly important moment for the future of our business, and hugely exciting for our talented team in Peterborough. Purchasing the site gives us complete control moving forwards, allowing us to improve all areas of our business.”
Roger Pratt, Area Director at HSBC UK East Midlands, said: “Creightons is moving forwards with a unique business model, so we were happy to support it as it looks to build on the momentum of the last 18 months.”