LEICESTERSHIRE FAMILY FARM DOUBLES ACREAGE WITH HSBC SUPPORT
12 September 2017
PA Wright & Sons Limited, a family-run farming business in Leicestershire, has acquired over 1,000 acres of additional farmland, following a Farm Purchase Loan provided by HSBC.
The farm, founded in 1955 and now managed by three generations of the Wright family produces an array of root vegetables, sugar beet, wheat and barley which are distributed across the UK.
Financial support provided by HSBC has allowed PA Wright to acquire the 658 acre farm that they had previously tenant farmed since 1962 together with an additional 438 acres of land.
Commenting on their recent acquisitions, Robert Wright, said, “With the support provided by HSBC, the move from tenant farming to fully owning all the land we farm puts us in a great position for the next phase of our farm’s growth. We can now focus on increasing the area of crops we grow along with diversification opportunities ownership will provide.”
HSBC Area Director for Corporate Banking in the East Midlands, Roger Pratt, said “We have worked proactively with PA Wright & Sons in devising an effective plan that has provided them with the resources needed to continue expanding their business. Our agricultural banking specialists live and breathe farming and we strive to work with businesses to help them realise their growth ambitions.”
The funding was arranged by Martin Summers, Agriculture Director for HSBC in the East Midlands.