UK fudge maker Mrs Tilly's Confectionery has announced plans for global expansion after receiving a GBP1.6m (US$2.5m) finance package.
The funding from HSBC will be invested in new machinery to help make its production process more efficient. It will also result in the creation of 16 jobs.
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Mrs Tilly's said it is also looking at "capitalising on its international sales success". It aims to increase its footprint in Canada "following significant growth in exporting to a number of European markets".
Susan Rowand, head of business banking for HSBC in Scotland, said: "Mrs Tilly’s already has a presence overseas, but is looking to enter new markets and make Mrs Tilly’s fudge and tablet a truly global business. They have all the ingredients required to be successful, and we are pleased to be part of this exciting period, supporting its growth."
In 2014 Mrs Tilly’s sold over 2m bars of tablet and fudge and developed their international sales to around 3% of turnover. This figure is expected to rise to 10% by the end of 2016, with turnover growing to GBP5m within the next five years.
Blair Paterson, MD of Mrs Tilly’s Confectionery, said: "My parents founded the business in the family kitchen in 1997 and have worked extremely hard to make it the success it has become today. We have ambitions to grow the business and take Mrs Tilly’s fudge and tablet to an even wider international audience."
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