UK: County Confectionery secures funding for expansion
UK confectioner County Confectionery has secured funding that it hopes will enable it to double its turnover by increasing production and growing exports.
The privately-owned Cornwall-based firm said today (7 January) it aims to double production and employee numbers through the funding from HSBC, financial details of which were not disclosed. The company plans to add a second fudge production line to its St Ives-based operations with the investment in order to meet "strong levels of customer demand".
County Confectionery produces fudge and chocolate under its own Copperpot Originals brand, but mainly manufactures under private label for UK retail.
In addition to growing its domestic operations, the company is looking to grow exports to around a quarter of turnover, up from 16% presently. It currently sells its products into Canada, Australia, the Middle East and the Far East.
"Our growth is being constrained not by a lack of demand but by our capacity to produce our products," said County Confectionery operations director Chris Brian. "This second fudge production line will significantly improve our manufacturing capacity and enable us to sell more product both at home and abroad. We are creating jobs as a result of this move and that is positive for the local economy in Cornwall."
The company said it hopes to create around 26 jobs through the expansion.
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