International Taste Solutions (I.T.S.), the Newbury-based natural flavours manufacturer, has secured funding from Barclays to acquire a new warehouse facility that will support the company’s continued growth in the UK and international markets.
The commercial mortgage will enable the fast-growing flavour house to purchase a site in Membury, near Hungerford, significantly expanding its manufacturing capacity as demand for its products continues to increase.
Founded 16 years ago by managing director Mike Bagshaw from his kitchen table, I.T.S. has grown into an independent flavour manufacturer supplying tailor-made natural flavour solutions to major food and drink producers. The company now employs 40 people but has outgrown its current premises as customer demand accelerates.
The new facility will provide additional space to scale production of both liquid and powdered flavours, while allowing the business to invest in new equipment, product development and future growth.
The site will undergo significant refurbishment to prepare it for food manufacturing operations. Barclays structured the funding to enable the company to preserve cash for the renovation and investment needed to bring the facility fully into operation.
Bagshaw described the move as a significant milestone for the company.
“I.T.S started at my kitchen table 16 years ago, and this move into a new warehouse is a huge milestone in our journey,” he said. “We’ve built this business by being brave, scaling big, having fun and staying fiercely independent – and this expansion gives us the space and infrastructure to take the next step while maintaining those core values.
“Demand for our flavours continues to grow, and this new facility will allow us to better serve our customers while creating a platform for the future. Barclays really understood our ambition and worked with us to structure funding which allowed us to maintain independence and still grow strategically by investing properly in the new site.”
The deal builds on a long-standing relationship between Barclays and the company, with the bank working alongside the management team to complete the transaction within the company’s targeted timeline.
Tony Bullock, relationship director at Barclays Business Bank, said the investment would support the company’s next stage of growth.
“I.T.S is a brilliant example of a UK manufacturing business that has grown from a founder-led start-up into a highly respected, innovative British producer with global ambitions,” he said. “As the business outgrew its existing space, it was important to put the right funding in place to support its expansion without constraining day-to-day operations or investment plans.
“We’re proud to have supported ITS with the acquisition of its new Newbury facility and look forward to continuing to back Mike and the team as they scale the business and create high-quality manufacturing jobs in the region.”
The expansion is expected to support the company’s next phase of growth as it continues developing natural flavour solutions for the food and drink sector while maintaining its independent, founder-led structure and UK manufacturing base.
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