Gravity Drinks Secures £4.5m Finance Package
Premium spirits producer Gravity Drinks has secured a significant £4.5m finance package to support its growth ambitions and meet the surge in seasonal international demand.
The package, provided by HSBC UK, combines a £3m receivables facility and a £1.5m trade finance facility, the latter backed by UK Export Finance (UKEF) through its General Export Facility product.
This timely funding has enabled the Cheltenham-based business to ramp up production, meet export commitments, and prepare for an exciting phase of expansion.
Funding Fuels Festive Success and New Opportunities
Gravity Drinks has already made strategic use of the financing, ensuring the timely shipment of 35,000 units of its popular ‘Whisky Tour of the World‘ advent calendar to Costco in the run-up to Christmas.
In addition, the funds have been instrumental in launching new products and white-label goods tailored for international customers, particularly in Asia.
The director of Gravity Drinks emphasised the importance of having robust financial partnerships, stating that with continued demand from their customers in the UK and overseas, having the right partners in place to help finance their growth is crucial to their business.
Furthermore, they went on to further add that UK Export Finance has been supportive of them since the early days of Gravity.
Expansion Plans: Jobs, Equipment, and Global Reach
Looking beyond seasonal spikes, Gravity Drinks intends to invest in new equipment and create additional roles at its Cheltenham head office, strengthening its foundation for sustainable growth.
The company’s export success spans markets such as the USA, Canada, Scandinavia, Taiwan, Japan, and New Zealand, where it supplies premium spirits and liqueurs to major retailers.
The export finance manager for London at UKEF highlighted the company’s ability to adapt to global markets, expressing that immersed in local markets, Gravity Drinks has taken the time to really understand seasonal celebrations globally and tailored drink solutions to capture their audience.
This adaptability underscores why UKEF has provided a guarantee to secure the financing, contributing to more than £576m in working capital loans for UK exporters in the last financial year.
A Boost for Local and Global Growth
The support from HSBC and UKEF not only enables Gravity Drinks to scale its operations but also benefits the local economy through job creation.
HSBC UK’s relationship manager expressed enthusiasm for Gravity’s growth journey, noting that they are excited to see Gravity Drinks taking its fantastic products to new markets. It is a privilege to support the production of new products for UK customers, and they are delighted that the company’s growth is supporting the local economy.
Conclusion
Gravity Drinks’ £4.5m finance package marks a pivotal moment for the company, demonstrating the value of strategic financial partnerships in driving both local and global growth.
From meeting the heightened demand for festive favourites to launching innovative products for diverse markets, the Cheltenham-based spirits producer is well-positioned for sustained success.
With the backing of HSBC UK and UKEF, Gravity Drinks exemplifies how small businesses can harness international trade opportunities to thrive and contribute to the broader economy.
As the company gears up for its next chapter, its commitment to excellence, innovation, and understanding of global markets sets the stage for continued growth and prosperity.
News Credits: Gravity Drinks secures £4.5m finance package to support export growth
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