Hull protein manufacturer to bulk up operations with six-figure funding deal

A Hull-based whey protein manufacturer is targeting business growth after securing a six-figure funding package from HSBC.

Launched in 2016 by Ben Thoy and brothers Will, Jack and Sam Latus, Whey Box is the UK’s first personalised on-demand, protein delivery service.

HSBC’s funding package will facilitate the expansion of the firm’s production capability by up to 500% and support. In addition, Whey Box expects to increase turnover by 1,000% in the next 12 months.

Ben Thoy, managing director of Whey Box, said: “The health supplement market, particularly whey protein, has seen massive expansion over the past five years. Myself and my fellow founders have all used supplements in the past but felt that the branding and the sizing of protein was not attractive to a large number of consumers.

“Fast forward two years and we now have a great range of consumer friendly products and Tesco has just started stocking our protein in its stores. With HSBC’s backing, we are now in a perfect position to meet demand from an even wider audience.”

The business currently produces 10 flavours, including gingerbread and coconut, in pocket-sized sachets that are delivered to customers as part of a monthly subscription or an one-off purchase.

Whey Box also supplies products to a number of retailers, including Holland & Barrett, Sewell On The Go and Asda, and recently launched its product range in over 300 Tesco stores. The business will also be launching in Boots stores in April.

Stephen Smith, HSBC’s relationship manager for North Yorkshire and Humber, added: “Whey Box is a fine example of a dynamic Humberside business that is taking advantage of a growing trend to bring an exciting new product to consumers across the UK.

“It is a pleasure support the business as it undergoes rapid expansion and we look forward to seeing Whey Box continue to flourish.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.