The funding will be used to expand the business and invest in its people, bakeries and customer experience.
The funding comes as the business continues to grow its estate, with 81 bakeries currently operating across the UK. It is also investing more than £1.6m in refurbishments this winter, with a new bakery in Guildford scheduled to open on 25 November.
The company says it has doubled its number of bakeries and quadrupled profit over the past five years, creating jobs for 1,000 people. It also reports like-for-like sales growth over summer 2026, alongside six new bakery openings.
This year, Cornish Bakery launched RISE, a larger-format bakery concept. The first opened in Betws-y-Coed, followed by a two-storey, 3,500 sq ft site at Gunwharf Quays in Portsmouth, which is the company’s largest bakery to date.
“Our next phase is about investing intelligently, finding brilliant locations and building bakeries that belong in their communities,” says Mat Finch, managing director of Cornish Bakery.
We’re delighted to have HSBC UK’s support which will really help us to maximise our potential.”
Founded in Mevagissey in 1994, Cornish Bakery says it intends to retain the individual character of its bakeries as it expands. Founder Grocutt describes the approach as an ‘anti-brand strategy’, with each site individually designed to reflect the community it serves rather than following a set format.
Liam Gover, relationship director at HSBC UK, adds: “Cornish Bakery has a clear sense of what makes its business distinctive and how it wants to grow.
“We’re pleased to support investment in its bakeries and new locations while helping it retain the individual character of each site.”