Wholesaler Pricecheck has received an investment of £14m from Lloyds Bank Commercial Banking in order to increase volumes of stock without affecting its working capital.
The Sheffield-based business said it would use the funds to improve its offering in skincare, fine fragrance and alcohol, to capitalise on expanding markets internationally and in the UK.
The wholesaler supplies 4,500 products to 80 countries worldwide, and aims to increase its turnover from £73.1m to £100m by next year and double that by 2025.
“Expanding into new markets and diversifying our product range provides us with every opportunity to reach our targets,” said Pricecheck FD Lee Walker.
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