Mash Direct secures £10m funding package
The money from HSBC UK will be used to add new production lines at its industrial kitchen, as well as a new onion peeler to help free up space in its peeling area. It is also investing in robotics and enterprise management software.
Mash Direct revealed it also planned to make its facilities more environmentally friendly by installing new solar and wind energy machinery and a new wastewater treatment facility.
The manufacturer added that it would support future growth by hiring 12 new members of staff this year across operations, management, sales, marketing, exports and human resources roles.
‘Essential investment’
Chief operation officer Jack Hamilton said: “With growing demand for our range of products at home and abroad, it was essential that we invested in new, environmentally friendly machinery and in the talented, skilled staff we currently have.
“Improving our carbon footprint is very important to the business and great strides will be made to do this with our investment in new technology. HSBC UK shares our vision for growth and understands our immediate needs as a rapidly scaling SME [small and medium-sized enterprise] in the agrifood sector.”
The finance was allocated from HSBC UK’s national SME Fund, a £14bn fund aimed at actively supporting UK businesses realise their ambitions for growth and navigate Brexit.
‘Exciting and ambitious’
Allan Wilkinson, head of agrifoods at HSBC UK, added: “Mash Direct is an exciting and ambitious SME, operating in a highly competitive and thriving agrifood sector.
The improvements it is making to its farming operations with HSBC UK’s support will stand it in good stead as it aims to grow its market share and meet demand from customers across the UK and overseas.
Meanwhile, Leicester-based Food Attraction has doubled its production capacity and plans to create 150 new jobs with the help of funding from HSBC UK.
