Bristol gourmet pie company Pieminister is to open two more restaurants early this year and boost capacity at its central kitchen in the city after securing a £1.65m finance package from its bank.
The pioneering firm, which opened its first venue in Stokes Croft in 2003, has a medium-term aim of operating 30 restaurants and cafes by 2020. 
Its latest funding package from HSBC has already led to one new opening – in London’s trendy Brixton Market in December – with a further two planned over the next few months, potentially in the North of England.
It has previously identified Brighton, Cambridge, Edinburgh and Liverpool among its target cities as well as more locations in London, such as Clapham, Earls Court and Tooting.
It will also mean it will be able to introduce efficiencies to offset a major increase in production costs linked to higher prices for its ingredients.
The deal with HSBC comes just 18 months after Pieminister secured a £1.4m funding package from the bank to open five new restaurants in 2016 and 2017.
That allowed it to finally open in Birmingham last summer after several years searching the second city for a site suitable for its first West Midlands outlet.
Pieminister is also using part of the asset finance facility to invest in a new plant and machinery to increase capacity at its central kitchen in Bristol where it produces its range of pies.
That, in turn, will improve efficiencies in its processes to offset the significant cost price inflation it has experienced over the past 12 months.
Pieminister co-founder and managing director Jon Simon said: “HSBC has once again shown unwavering support for Pieminister and our ambitions to continue expanding our restaurant portfolio across the UK.
“Growth tends to conjure up new business challenges but the team at HSBC are always on hand to advise and guide us through; and this latest venture is no exception. As always we are grateful to the bank for believing in us and allowing us to not only grow the business but improve the way we run it.”
HSBC area director for Bristol, Gloucestershire and Wiltshire, James Shepherd, added: “Jon and the team approached HSBC a few months ago with a renewed vision for growth and a business plan that clearly set out their new funding requirements.
“Pieminister has an impressive track record, which meant we were quickly able to put a finance package in place which has already helped secure and fit-out the first of three new restaurant sites in the UK, as well as improve other processes across the business.”
Pieminister was co-founded by Jon and his brother-in-law Tristan Hogg. Its chain of restaurants and cafes now include three in Bristol, three in London and one each in Bath, Birmingham, Nottingham, Manchester, Cardiff, Leeds, Oxford and Stoke-on-Trent.
Each new outlet creates on average 10 jobs.
Pieminister pies are also sold in pubs and market stalls as well as some of the UK’s finest independent food retailers and food halls including Harrods in Knightsbridge and Wholefoods stores nationwide.
A selection of Pieminister products are also listed in supermarkets including Waitrose, The Co-operative, Sainsbury’s and Tesco.
Pictured: Pieminister co-founders Tristan Hogg, left, and Jon Simon and in the Birmingham restaurant
