Harrogate cider producer receives £2m for canning line
Harrogate-based Herefordshire Cider Company has received £2m funding to build the UK’s first independently owned drinks canning plant.
The company has moved its banking to HSBC’s Commercial Banking in the North West, enabling it to build its own production line.
It is a move that will save the company exporting costs of taking it their cider overseas to be canned, and will also offer an additional revenue stream by providing canning facilities for third parties.
The business also benefits from the experience of its managing directors Paul Burton and John Hibberd, who previously built up and sold a successful drinks bottling business.
Lee McCracken, HSBC’s Area Commercial Director for Cheshire, said: “Herefordshire Cider Company is a great example of a company that is using its expertise to target new lucrative income streams and growth areas.
“By investing in its business model now to drive down costs and position itself for future expansion, the company is helping to secure its long-term future prosperity.”
Paul Burton, Joint Managing Director at Herefordshire Cider Company, said: “Building our own canning facility will give us greater independence and autonomy over our production and outgoings and I’m confident that, given our background in this industry and the help and support we’re receiving from HSBC, this funding will present significant opportunities for the business going forward.”
Herefordshire Cider Company are a year old, and produce strong dry and amber cider, employing 25 staff.
This was posted in Bdaily's Members' News section by Tom Keighley .