South Devon business secures multi-million pound funding to drive growth and expansion

South Devon-based food service business RD Johns Ltd has secured a multi-million pound funding package to accelerate its next phase of growth through capital investment and strategic acquisitions.

The family-owned RD Johns Ltd is a prominent supplier of meats and fish, frozen, chilled and ambient goods to the hospitality and foodservice sectors.

The Kingsteignton HQ company will use the HSBC UK funding to refinance its existing facilities and create additional headroom to invest and scale.

A key element of the deal is access to a further £10m of new funding for investment and acquisitions, enabling RD Johns Ltd to move quickly on opportunities that align with its long-term strategy and support expansion into new regions as the business continues to grow.

As part of the wider funding package, £4m of asset finance is available to support upgrades to R D Johns Ltd’s fleet of delivery vehicles, enabling the business to add and replace a range of vehicles and equipment aimed at significantly increasing distribution capacity, improving delivery efficiency and supporting rising customer demand.

The company expects organic growth of six per cent over the next 12 months, will grow its procurement and sales teams, and invest further in its meat and fish division, which currently contributes £20m to its £90m turnover anticipated for 2026.

Andrew Johns, managing director at RD Johns Ltd, said: “Our decision to move our banking relationship to HSBC UK is an important milestone and reflects the ambition we have for the business. Christopher Hudson and the team at HSBC UK have invested time in understanding our business and long-term strategy which is important from our banking partner.

“The funding package gives us the flexibility and confidence to pursue opportunities that align with our long‐term strategy and ensures we’re investing in the areas that will deliver the most value for our customers.”

Christopher Hudson, relationship director, corporate banking at HSBC UK, said: “RD Johns Ltd is a high quality, South West business with a strong track record and ambitious growth plans.

“We are delighted to welcome them to HSBC UK and support the next phase of their journey with a flexible funding package that enables the business to pursue its investment and acquisition strategy with confidence.”