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News & Views

News & Views

Bazaar Group Secure Growth Capital Funding To Support European Expansion

Bazaar Group

Bazaar Group - Cramlington, Northumberland

Bazaar Group, the Northumberland-based market-leading furniture manufacturer and ecommerce retailer in the soft seating category has secured funding to further support its European operation.

 

HSBC has provided the Bazaar Group with a debt funding package which will pave the way for European expansion and support its ambitious growth plan.

The Bazaar Group under the stewardship of CEO Mark Dolder initiated the first phase of its expansion programme in 2021 when he secured a £10m majority share investment from Comhar Capital. Since then, this partnership has developed and implemented an exciting growth plan which incorporates an aggressive European expansion project.

The first step in Bazaar’s European expansion has been secured with a long-term lease of a Hamburg-based manufacturing and distribution hub. This will be focused upon meeting the rising demand from its European customer base. The 35,000 square foot unit (Over 3250m2) will provide a highly effective fulfilment operation allowing the company to access a market of 165 million within a 48-hour delivery window.

Mark Dolder, Bazaar Group CEO, commented: “This is another exciting phase for the Bazaar Group. Our initial partnership with Comhar Capital fuelled our ambitions and gave us confidence to grow the business. The European expansion project, with the added support from HSBC, is a significant step in consolidating our position in the European market.”

Commenting on the company’s refinancing package, Mark Short, Chief Finance Officer said: “Having recently joined the business, I am really pleased to have secured this support from HSBC for our European expansion plan. I am very much looking forward to working closely with Comhar and the team at HSBC as we deliver on the business’s commercial goals.”

Craig Wilkinson, Managing Director of Comhar Capital, said: “Since investing in the business, we have been working closely with Mark and the Bazaar Group team to develop an accelerated growth plan. Our new partner, HSBC, adds a new dimension to the business and supports Bazaar’s European plans, a key growth pillar for the business.”

Established in 2005 the Bazaar Group continues to operate from its headquarters in Cramlington, Northumberland. The Group has grown steadily over the past 17 years and consistently ranks as a top performer on large ecommerce platforms such as Amazon, eBay and Wayfair.

END – June 2022

­About Bazaar Group

Headquartered and operating from Northumberland, Bazaar Group is a market-leading manufacturer and ecommerce retailer in the soft seating furniture category. The business is the category leader in this sector, having developed strong visibility across multiple channels and has built an enviable market position based on its design-led product collection and excellent customer service.

Bazaar Group consistently ranks as one of the top vendors in the soft seating category on large marketplaces such as Amazon and eBay and is also growing a strong position as a key supplier to online specialist retailers such as Wayfair.

Product and business information can be found at: https://www.bazaar-group.uk/ or direct to marketing@bazaar-group.uk

About Comhar Capital

Comhar Capital (pronounced ‘core’), is a company focused upon providing direct capital investment for businesses run by forward-thinking, growth-orientated owner-managers.

Meaning ‘partnership’ in Gaelic, Comhar prefers to work hand-in-hand with business owners to help improve a company’s outlook, opportunities and growth prospects.

Comhar founders are Neil Armstrong and Craig Wilkinson. Neil is a highly experienced business leader and entrepreneur, who currently leads United Living Group whilst holding a number of other non-executive positions. Craig has been investing in, financing and supporting growing companies for more than 20 years, most recently with LDC (the private equity arm of Lloyds Banking Group) where he took the Lloyds mid-market investment business to Asia.

Further information can be found at: www.comharcapital.co.uk/or via enquiries@comharcapital.co.uk