The North East Development Capital Fund (NEDCF), supported by the European Regional Development Fund (ERDF) has led a GBP410,000 investment in Newcastle-based CRL Foods Ltd (CRL Foods), a specialist food & beverage canning, sterilisation and pasteurisation business.
The Fund originally invested last year to enable the business to expand its team, creating 10 new jobs in Newcastle and increase its production capacity.
The transaction includes GBP250,000 from NEDCF, GBP61,500 from existing shareholders, and a GBP98,500 grant from the North of Tyne Growth Fund. The North of Tyne Growth Fund is a GBP4.6 million programme of investment part-funded by European Regional Development Fund (ERDF) programme 2014-2020, that aims to support SME growth across Northumberland, North Tyneside and Newcastle local authority areas.
