BROUGHTON Ales, the Borders-based brewer, is forecasting a significant increase in sales after securing £395,000 of funding from HSBC.
The brewer said the package will allow it to invest in equipment to expand production as demand grows for its beers at home and abroad. Broughton’s brands include Old Jock Ale, Green Mantle and Hopopotamus IPA.
The combination of loan, asset and invoice financing will be used to acquire new fermenting and conditioning facilities, including new tanks.
Temperature control equipment will be installed to enhance the quality of beer produced, while there are plans to develop a shop and visitor attraction at the brewery, which is based in the village of Broughton.
The expansion comes around two years after the brewery was acquired by drinks industry executives John Hunt, David McGowan and Steve McCarney from Giles Litchfield, alongside an unnamed fourth investor.
The trio had previously worked in senior roles for companies such as Scottish & Newcastle, Diageo and Heineken.
Mr Hunt said: “Since the new management team came on board at the end of 2015, our aim has been to build a stronger presence in what is a growing market for authentic beers with real provenance. We also plan make our products more accessible to markets around the world, in particular in Northern and Southern Europe and the United States.
“I am confident the funding package will go a long way to help us achieve our growth ambitions. It will help us increase our quality and capacity of the production of our key brands, and accelerate plans to build a local visitor and tourist attraction at the brewery.”
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