Spar Scotland wholesaler and retailer CJ Lang plans to replace and develop its distribution assets over the next two years following an eight-figure refinance transaction with HSBC.
The Dundee-based business intends to make its delivery vehicles more efficient and explore alternative fuelling options such as electric or gas power for its trucks.
It will also use the capital refinancing from HSBC to invest in its stores’ fixtures and broaden its offer, especially in the food-to-go category. The upgrades are part of the implementation of CJ Lang’s five-year strategic plan.
CJ Lang operates around 100 company-owned stores and supplies to approximately 200 independent retailers.
Craig Tedford, Financial Director, CJ Lang, said: “The support from HSBC UK is allowing us to put our five-year strategy into practice, with the overall aim of modernising and improving our offer and assets for the benefit of our customers across Scotland.
“We also believe that these improvements will help us develop our customer base and attract new independent retailers to the Spar business.”
The finance was allocated from HSBC UK’s national SME Fund, which aims to actively support UK businesses realise their ambitions for growth and navigate Brexit. The fund has £650m earmarked for SMEs in Scotland.
