Soft drinks firm welcomes £440k loan that will create 24 jobs in capacity expansion

Up to 24 jobs will be created at a Liverpool soft drinks firm following a £440,000 loan from Liverpool City Regional Combined Authority’s Flexible Growth Fund.

The fund is backing a diabetic’s mission to remove artificial sweeteners from soft drinks and will enable the Aintree-based Happy Drinks Company to expand its bottling and manufacturing capabilities to meet rapidly growing demand.

Founded in 2017, the Happy Drinks Company is on a mission to replace existing ingredients with a natural, stevia-based formula.

Founder and CEO, Ian Minton, is a type 1 diabetic and 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.

After humble beginnings, Happy Drinks Company has seen rapid growth in just a few years and the company now counts major retailers Lidl, M&S, Waitrose, Costco and Ocado amongst its customer base, stocking its innovative beverages.

The Flexible Growth Fund was established by the Liverpool City Region Combined Authority with £20m in 2020, offering flexible, low interest loans that businesses can access quickly and easily, to enable projects to be completed.

Ian Minton

Managed by River Capital, it is available to small and medium size enterprises (SMEs) undertaking expansion projects and with the ability to raise 50% in match funding from the private sector.

Cllr Mike Wharton, Liverpool City Region Portfolio Holder for Economic Development and Business, said: “The Happy Drinks Company is a real success story and a great example of our city region’s world class advanced manufacturing sector.

“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.”

In 2020, the Happy Drinks Company, developed a global partnership with the official Emoji brand and followed this by relocating to a larger facility in Aintree to accommodate expansion in 2021. It now manufactures a range of seven products for on-sale to major retailers.

The Flexible Growth Fund investment will support the provision of a state-of-the-art bottling line to increase production capacity. This will fuel the company’s ambitions to boost sales, widen its product range and create further market penetration with better shelf placement as the brand grows.

Ian Minton said: “As a type 1 diabetic I realised how difficult it was to find drinks that were both healthy and delicious.

“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.

“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.”

River Capital Investment Manager, Jeff Cummins, said: “Since its founding in 2017, the company has shown impressive growth and innovation in developing great tasting soft drinks without artificial sweeteners.

“Their beverages are clearly resonating with consumers, as evidenced by their rapid expansion into major UK retailers. Our investment will allow Happy Drinks to meet the increasing demand for their products by enhancing production capabilities.”

He added: “When the Flexible Growth Fund was established in 2020 by the Liverpool City Region Combined Authority, the aim was to support local businesses making positive impacts and through the new job creation to removing unhealthy ingredients from popular drinks, Happy Drinks is doing just that.

“We’re confident this funding will support the next stage of growth for Happy Drinks, and we look forward to following their ongoing success.”