Investment from the Liverpool City Region Combined Authority’s Flexible Growth Fund will support the provision of a new bottling line to increase production capacity, fuelling its growth ambitions to boost sales, widen its product range and create further market penetration with better shelf placement as the brand grows.
The project will initially create a further 24 jobs in the Liverpool City Region and supports the Combined Authority’s ambition of long-term social and economic improvements.
Commenting on the investment, Liverpool City Region Portfolio Holder for Economic Development and Business Mike Wharton said: “The Happy Drinks Company is a real success story and a great example of our city region’s world-class advanced manufacturing sector.
Returned with interest
“The business is already thriving and this investment will enable it to go on to even better things, creating another 24 jobs for local people in the process. What’s more, this loan will be returned to the Combined Authority with interest, so we can put it back to work supporting other city region businesses.”
Founded in 2017, type 1 diabetic Ian Minton started the company after having difficulty finding drinks that are both healthy and delicious, as the vast majority of sugar-free soft drinks use artificial sweeteners.
“It was that experience, coupled with my belief in the power of natural ingredients, that led me to found the Happy Drinks Company and embark on a mission to eradicate artificial sweeteners from soft drinks and provide healthier alternatives for everyone,” said Bolton.
“This funding is hugely important and will enable the business to continue to grow and disrupt the drinks industry while creating a further 24 jobs here in the Liverpool City Region.”
Business loans
The Flexible Growth Fund was established by the Liverpool City Region Combined Authority with £20m in 2020, offering flexible, low-interest loans to enable business to complete projects.
Managed by River Capital, it is available to small- and medium-size enterprises undertaking expansion projects and with the ability to raise 50% in match funding from the private sector.
River Capital Investment Manager Jeff Cummins added: “We are delighted to be supporting Happy Drinks Company through the Combined Authority’s Flexible Growth Fund. Our investment will allow Happy Drinks to meet the increasing demand for their products by enhancing production capabilities.
“We’re confident this funding will support the next stage of growth for Happy Drinks, and we look forward to following their ongoing success.”
