Huddersfield brewery to see 80% increase in turnover with £750k fund
Magic Rock Brewing Company, the Huddersfield-based brewery, is set to double its production capacity after securing £750k of equipment finance from HSBC.
Since launching in 2011, Magic Rock Brewing now exports locally-brewed beer to more than 25 countries.
With this latest financial support from HSBC, the brewery will be able to source new equipment, which will double production capacity, generate four new jobs and increase turnover by around 80%.
Andrew Bennett, HSBC’s area director for business banking in West Yorkshire, said: “HSBC has worked closely with Magic Rock Brewing since it was first established, and during this past five years, we have seen it grow from a small operation in rented premises to now selling over £3m of its products around UK and Europe.
“This latest financial support will enable Magic Rock to continue enjoying both international and domestic success.”
Richard Burhouse, managing director of Magic Rock Brewing Company, added: “The business has come such a long way since we first started in 2011 and we are already ahead of where we projected to be at this stage.
“This latest financial support from HSBC, who have been instrumental throughout our success of the past five years, allows us to bring forward our 2017 plans for the business which is hugely exciting for us.”
Established by brothers Richard and Jonny Burhouse, Magic Rock Brewing was named second best new brewery in the world in 2012 by the independent ratings site Rate Beer.
Such was the demand for its beers that within the first year, brewing capacity was increased twice before the company relocated production to a new 15,000 sq ft facility, with an onsite Taproom where they now employ over 30 staff.
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