Funding boost for cider producer

A CIDER brewery is to launch what it claims will be the UK’s first independently owned drinks canning plant after receiving £2m of funding.

Harrogate-based Herefordshire Cider Company has received the cash after moving its banking to HSBC commercial banking.

Herefordshire Cider Company, established last year, produces strong dry and amber cider and the canning facility will enable the company to save on the exporting costs of taking its cider overseas to be canned.

It will also offer an additional revenue stream by providing canning facilities for third parties.

Paul Burton, joint managing director at Herefordshire Cider Company, said: “Building our own canning facility will give us greater independence and autonomy over our production and outgoings and I’m confident that, given our background in this industry and the help and support we’re receiving from HSBC, this funding will present significant opportunities for the business going forward.”

Lee McCracken, a HSBC area commercial director, said: “Herefordshire Cider Company is a great example of a company that is using its expertise to target new lucrative income streams and growth areas.

“By investing in its business model now to drive down costs and position itself for future expansion, the company is helping to secure its long-term future prosperity.”

Herefordshire Cider Company employs 25 people.