A Cheltenham drinks business is expanding its range of products with support from HSBC UK – creating new jobs in the process.
Gravity Drinks will use a £3.5 million funding package from HSBC UK to grow its portfolio of premium spirits, creative liqueurs and alcohol gift sets, which it distributes to retailers throughout the UK and internationally.
The business anticipates a 20 per cent increase in annual turnover, driven by its ability to expand its product offering.
Additionally, the funding provided by HSBC UK has supported the business in recruiting for three new roles, with plans to take on further staff in the near future.
The money will also be used to help with the sale of existing products in the US and Asia.
Matthew Maslin, Director at Gravity Drinks Ltd, said: “We have built a great relationship with HSBC UK over the years and are pleased to be working together again as we anticipate our next year of growth.
“This deal will allow us to meet additional customer demand for our existing product lines, particularly in Asia and the US. We also have a number of new exciting products in development that customers have expressed great interest in and, with the additional funding, we can bring production forward.”
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