5 June 2014 11:00
News
Devon drinks distributor grows with GAIN
Newton Abbot-based drinks wholesaler, Tolchards Ltd, has reached a turnover of nearly £10 million in under four years, thanks to support from the Plymouth University and Western Morning News Growth Fund (PWGF).
Ed Haine, Finance Controller at Tolchards Ltd
Tolchards tapped into the PWGF, a key component of GAIN – the Growth Acceleration and Investment Network set up by Plymouth University, Plymouth City Council and Plymouth Science Park, through their Finance Controller, Ed Haine.
Ed played a key role in clinching £10,000 from PWGF, which enabled Tolchards to invest in new staff, develop an online ordering service and create a bespoke wine list service, which is a specialist offering in the sector. With a new depot in Hampshire and a team of 36 staff, the business is quickly growing its client base across the south of England and also into London.
Originally single-handedly managing the company’s finances, Ed now manages a team of three and has a more strategic role but continues to enjoy working for a friendly family business. He said “When I joined Tolchards we were a team of 15 and I was responsible for every aspect of the company’s finances. It is an excellent role as there is always something different to do and I’m also fortunate to be working with a great bunch of people.
“Working on the PWGF bid was a highlight of my career to date with Tolchards. The funding enabled us to significantly improve our online offer and give our customers something different, giving us the edge over our competitors. The company has seen fantastic growth and continues to look forward.”
PWGF made more than 60 grants totalling £4.7million to South West companies designed to support the creation of more than 500 new jobs by 2015. These awards also unlocked private investment in the region of over £9million.
A new fund - the £3million GAIN Growth Fund – will build on the success of
PWGF and has received record levels of interest from companies keen to win a grant to help them expand and create new jobs. The growth fund forms part of the wider Plymouth and South West Peninsula City Deal, which is focused on increasing productivity and growth in the South West Peninsula and could see almost £300million of investment into the region’s marine and advanced manufacturing sectors, creating over 9,000 jobs.
GAIN (the Growth Acceleration and Investment Network) exists to accelerate the creation, growth and investment in high quality businesses and ideas to create wealth and jobs in the South West Peninsula.
It is a partnership founded by Plymouth University, Plymouth City Council and Plymouth Science Park. It includes Formation Zones in Devon and Cornwall, Cornwall’s Unlocking Potential enterprise programme, Cornwall’s three innovation centres, the Beacon peer-to-peer business network across the South West, the national University Enterprise Network and world class University R&D facilities.
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