With support from commercial financier Legion Trade Finance Ltd, a family-run business in North Yorkshire is helping to meet the growing global demand for gluten and wheat-free produce.
< 
div>With support from commercial financier Legion Trade Finance Ltd, a family-run business in North Yorkshire is helping to meet the growing global demand for gluten and wheat-free produce.
The new NACFB patron is appealing to property professionals to assist their clients to utilise Legion Trade Finance’s Services. As well as dealing with professionals who are very familiar to trade finance, the firm is used to transacting with those who are new to the services.
LTF is an independent financier of UK companies which need facilities to purchase goods from their suppliers globally. It offers structured finance solutions including paying suppliers direct, loans and letters of credit. They have four offices based around the UK.
The typical facility is £100,000 with no upper limit over the trade cycle and last year LTF facilitated trades worth over £40 million.
GF Foods (York) Ltd. (GF Foods) was initially set up as an internet business by husband and wife team Sally and Stuart Allister in 2004.
GF Foods (York) Ltd. (GF Foods) was initially set up as an internet business by husband and wife team Sally and Stuart Allister in 2004.
Fast forward ten years and the business, based in Selby near York, now manufactures a range of gluten and wheat-free pies, pastries, buffet food, sweet and savoury snacks and desserts, with produce sourced from around the world.
GF Foods is on target to hit a turnover of £1 million this year and has plans to grow its current headcount of four, and also to break into new markets at home and abroad.
Sally, a former national account manager with a contract catering company, says the facilities provided by LTF have been critical to the firm’s success.
In regards to her business, Sally said: “Ours is a niche market with huge opportunities both at home and abroad, and we came to realise that we needed assistance in making advanced purchases. Around a year ago we found Legion Trade Finance through an internet search and have never looked back.
“Trade finance means we can buy products in bulk and these can then be re-packaged into retail size, so stock is always on our shelves ready for when a large supermarket order comes in.
“LTF has a very flexible, forward-thinking approach which has helped us achieve a good cash flow and a thriving export business, with Ireland and South Africa being particularly strong markets for us.
“We are on track to achieve a £1 million turnover this year and are set to grow by another 50 per cent in the next two years. We have also reached the point where we may also look to add to our export and marketing functions, so Stuart and I can devote more of our time to business strategy.
“There’s no doubt that we couldn’t have achieved what we have without the support of Legion Trade Finance.”
The exposure of this transaction has opened up given the owner of the firm more avenues of business and has helped boost its client base up to a new level.
Paul Levy, Head of Business Development at LTF, said: “Our financing of Sally and Stuart’s business is more akin to project or production finance and in this case, the need to build a 12-week buffer stock for a major supermarket was the key initial driver.
“This is not a straightforward trade finance deal but again it demonstrates the degree of flexibility we can offer, which can only be delivered through extensive knowledge and experience.”
In respect to the firm and his role within it, Paul said its important not to go out and sell the product, but to sell the solution.
Picture: Sally of GF Foods and Paul Levy of Legion Trade Finance
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