Cheltenham-based drinks producer Gravity Drinks has secured a financing package of £4.5 million through HSBC, with support from UK Export Finance (UKEF). The financing combines £3 million in a receivables finance facility and a trade finance facility of £1.5 million guaranteed by UKEF.

 

The funding will support the company to grow its global exports. Gravity Drinks already exports to retailers in the US, Canada, Scandinavia, Taiwan, Japan, and New Zealand. 

 

Gravity Drinks is so far using the funding to increase production and shipments ahead of the Christmas season, and to launch new products and white labelling for the Asian market.

 

Jim Denoon, director at Gravity Drinks, said: “With continued demand from our customers in the UK and overseas having the right partners in place to help finance our growth is crucial to our business. UK Export Finance have been supportive of us from the early days of Gravity”.  

 

 

Hitesh Patel, export finance manager for London at UK Export Finance, said:  

“It has been a pleasure working with Jim Denoon’s team to understand the financial and insurance needs of the business. Immersed in local markets, Gravity Drinks has taken the time to really understand local seasonal celebrations globally and tailored drinks solutions to capture their audience.  

 

“The overwhelming majority of UKEF’s deals support smaller businesses like Gravity, ensuring that entrepreneurs from all over the country can benefit from international trade.”