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Business & Economy

Mammoth accelerates growth plans after six-figure investment

Newcastle-based health and wellbeing firm Mammoth is set to create jobs and infrastructure after securing six-figure investment.

The funding will enable the company to invest in talent, new warehousing for its bedding collection, a European mainland international showroom and drive sales of its recently-revamped product range.

And founder and chief executive John Tuton believes 2024 is set to be Mammoth’s best year yet.

He said: “There’s no doubt, through no fault of our own, we’ve been through a challenging period over the last two years and weathered some tough trading conditions, which were compounded by the unfortunate loss of suppliers.

“But it’s testament to the team we have in place, and the relationships we have built, that we’re now in a position to secure investment and grow once again.”

Under the leadership of John and new managing director Mike Hobson, who joined the business in July 2023, the next period of growth will see the brand continue to innovate and partner with experts in sleep, comfort and performance.

John added: “Mike’s role in our turnaround has been critical and, with this funding in place, I’m confident we are in the right place to accelerate our growth strategy.”

The six-figure investment came from the North East Growth Capital Fund, through regional fund management firm NEL Fund Managers.

Mark Wharton, NEL Fund Managers’ senior portfolio executive, said: “Having worked closely with Mammoth both prior and throughout the pandemic, I’ve seen how forward-thinking and tenacious John and his team are in their business vision and financial diligence.

“Over the last two years, they have experienced a period of unprecedented turmoil as a result of the pandemic that would have seen most organisations go to the wall.

“It’s taken careful governance and a pragmatic turnaround plan to ensure Mammoth continues to look forward to a highly successful 2024 and beyond.

“Mammoth is uniquely positioned in the furniture market as an organisation with a clear focus on health and wellbeing, which resonates with consumers more now than ever before.

“We’re excited to see them execute their growth strategy over the coming months and years with their restructured management team and a number of key partnerships in place.”