Nursery retailer Mamas & Papas has agreed a new funding package from HSBC which will allow the business to grow its international business.
The retailer, which has a turnover of over £120m, will focus international expansion in Europe, the Middle East, Russia and Japan.
Mamas & Papas group finance director Jason Greenwood said: “2009 was another strong year for Mamas & Papas driven by the opening of new stores, diversification in our award winning product ranges and the announcement of further global expansion. As we enter a new decade and a new phase of growth we need a banking partner with the unrivalled international presence to support our global strategy, plus the ‘on the ground’ expertise to help us realise our ambitions – wherever and whenever we need to. The company aim is to become the World’s Favourite Nursery Brand and this partnership is central to the growing momentum.”
Mamas & Papas currently has 50 retail outlets in the UK and supplies 250 further UK retailers.
Last year the retailer debuted in Saudi Arabia and struck a distribution deal with Japanese firm Pigeon Corporation in a deal that it hopes will generate turnover of ¥2bn (£12.6m).