ITW has created a new leasing and finance division for its UK Food Equipment Group to better align its four brands, designed to give dealers and their customers access to an easy-to-use, one off replacement or complete kitchen finance solution.
In a move aimed at giving dealers greater powers to help safeguard the cash flows of hard-hit end users, the newly-created ITW Leasing and Finance Division will offer cooking, warewash and food prep products from Hobart Equipment Division, kitchen and bar refrigeration from Foster and Gamko, and software and scales from Avery Berkel.
Building on Hobart’s leasing and finance model, which has seen operators receive the desired equipment without the initial outlay, the new solution should make it quicker and easier for catering establishments of all levels to gain access to major products.
Packages reportedly have a 99% rate of approval, as ITW is the lender, not a broker.
Tim Bender, sales director, Hobart Equipment Division said: “We’ve had great success at Hobart with our leasing and finance offering, and we’re proud to see ITW embracing it and building upon it across the wider food equipment group. It goes without saying that operators could walk into a dealership and walk out having secured a replacement product or a fully operational, plug and play kitchen, via a payment structure that prioritises the needs of their business.”
Ewen Cairns, UK sales manager, Foster and Gamko said: “The ITW Leasing and Finance Division immediately assumes the full cost, meaning there is no credit risk to dealers, and they will see the full Invoice value in their books. We’re excited to be able to offer this new service to our customers, with tailored campaigns to support them in this uncertain climate. This is a game changer.”
Sophie Gardner, UK and Ireland national sales manager of Avery Berkel said: “To really survive and thrive, food businesses need suppliers and manufacturers to work together more as partners. This is just one of the reasons why we have taken steps to offer this financial support, during a time when we see it as being needed the most.”