A Dominos Pizza franchisee is targeting further expansion into the North East and Yorkshire after acquiring three new stores, significantly increasing the workforce.
Marino Foods has acquired two outlets in Grimsby and a further store in Ilkeston after securing a £1.33 million funding package from HSBC.
HSBC’s Tyne Tees Commercial Centre provided the funding package to support the buyout, in a deal managed by commercial manager Gavin Taylor, who also worked with colleagues in HSBC’s specialist Franchise team.
Leeds-headquartered Marino Foods was founded in 1999 by Gary Reid, who was looking for franchise opportunities after selling his previous business, and the company now employs 250 people, operating stores in Darlington, Durham, South Yorkshire and the North West.
Now Reid is planning further growth with three new stores planned for the next 12 months, with the company targeting Doncaster and the North East.
It is expected that a further 100 jobs will be created with these brand new outlets.
Marino Food’s Gary Reid said: “We are always looking at ways of expanding the business, either through acquisition or through developing new stores.
“Dominos is a very supportive franchisor and HSBC has been very supportive also, so we are in a strong position to grow and create new jobs.”
Pat Dellow, HSBC Tyne and Wear Area Commercial Director, added: “Our relationship with Marino Foods dates back to when it opened its first outlets in the North East and we have maintained a strong relationship with the company since.
“Gary has ambitious plans for the business and we are keen to support growing franchisees.”