London-based premium dessert manufacturer Pots & Co has revealed that it is planning to boost its international trade after securing a new £1.2m funding package from Lloyds Bank Commercial Banking.
Pots & Co, which produces high-end pudding pots for the likes of British Airways, Selfridges and Eat, is targeting further growth in North America, which currently accounts for more than half of its £17m turnover.
The new funding facility is expected to enable Pots & Co to meet an anticipated uptick in demand for its products as it looks to secure contracts with major US retailers including Walmart, Whole Foods and Safeway. Pots & Co’s desserts are currently stocked by Costco across the US.
The business plans to boost its global sales to more than 24 million units annually, supported by the new funding.
Julian Dyer, founder of Pots & Co, said: “Pots & Co has grown rapidly since we started the business in a small rented kitchen just six short years ago. Our success in the UK has led to significant traction in the US and we have huge ambitions to build our exports based on our continued commitment to exceptional taste and high quality ingredients.
“North America has quickly become our number one avenue for international growth and will form a key part of our strategy for the foreseeable future. Having Lloyds Bank by our side has given us the flexibility to scale up at speed while targeting essential new contracts and maintaining our commitment to using ethically-sourced products from around the world.”
