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ITW creates UK finance division to give operators more payment flexibility

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ITW has created a new leasing and finance division for its UK Food Equipment Group to better align its four brands and said it will give operators access to an easy-to-use, one off replacement or complete kitchen finance solution.

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 proven leasing and finance model, which has allowed operators to achieve the highest spec equipment desired, without the initial outlay, the new solution will make it quicker and easier for catering establishments of all levels to gain access to the best products on the market.

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Crucially, because packages have a 99% rate of approval – ITW is the lender, not a broker – the offer will also give catering equipment distributors a highly valuable new tool in their armoury with which to help potentially cash-strapped end-users bounce back.

Tim Bender, sales director at 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 at 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.”

EDITOR’S VIEW: Can flexible financing stimulate kitchen equipment spend?

Tags : Avery BerkelFinancingFosterGamkoHobartITWleasing
Andrew Seymour

The author Andrew Seymour

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