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Hire Purchase and Regional Growth Fund - Rossi (Southend on Sea) Ltd

Rossi Ice Cream

Rossi Ice Cream has been producing premium ice cream in Essex, since 1932. Going from strength to strength, Rossi have won numerous awards for their ice cream and excellent customer service, recently winning ‘Business to Business’ at the Countywide Essex Business Awards 2016.

Their ice cream is available from local Ice Cream parlours, independent retailers, wholesalers and major supermarkets. 

Challenge

Due to the steady growth of the business, Rossi recently moved to purpose built premises. Moving its expanding operation to new, more efficient premises and larger warehousing facilities means the company can now progress with its positive business plans for further growth and development.

Part of the growth for the Company has been supported by the introduction of Personalised Tubs of Ice Cream in 2012. 

The Tubs have been a huge success, producing high quality, fully branded 125ml tubs of Ice Cream for product launches, exhibitions, awards evenings and store openings for  many well-known and high profile companies. . 

As demand for the tubs increased, they looked into a Machine that could assist in filling the tubs, rather than continuing to do so by hand.  

They were looking to purchase a RR3800 formidable rotary ice cream filling machine, capable of facilitating up to 3,800 tubs every hour. 

Solution 

Director of Rossi Ice Cream, Colin Gray, contacted Natalie Smith, Area Sales Manager from Close Brothers Asset Finance, to discuss the best finance option for them to support the company’s future growth plans. 

After speaking with Natalie, they thought the best product for them would be the Hire Purchase, meaning the asset would belong to Rossi Ice cream at the end of term. 

Natalie tailored a 48-month Hire Purchase agreement with supported funding from the Regional Growth Fund, which also created one job allowing the company to take on a further employee.

Result 

With the new machine and facilities in place Rossi now have the capability to triple productivity to meet demand from recently won contracts and allows them to gain more in the future to continue to grow the business. 

Colin Gray: “Close Brothers were great at finding a finance solution that suited our business. They understood our business needs and found the best solution for us and to support our future growth.”