£1.6m package of support
HSBC backs Mrs Tilly’s overseas sweet spot
The Stirlingshire-based family business has raised £1.6 million from HSBC and will hire 16 staff to help with international demand. It will be targeting Canada, France, Germany, Denmark, Switzerland and Poland.
Blair Paterson, managing director, and son of the founders, said: “My parents founded the business in the family kitchen in 1997 and have worked extremely hard to make it the success it has become today. We have ambitions to grow the business and take Mrs Tilly’s fudge and tablet to an even wider international audience.”
In 2014 Mrs Tilly’s sold more than two million bars of tablet and fudge and developed its international sales to around 3% of turnover. This figure is expected to rise to 10% by the end of next year, with turnover growing to £5 million within the next five years.
Susan Rowand, head of business banking for HSBC in Scotland, said: “Mrs Tilly’s already has a presence overseas, but is looking to enter new markets and make Mrs Tilly’s fudge and tablet a truly global business. It has all the ingredients required to be successful, and we are pleased to be part of this exciting period, supporting its growth.”
This finance package has been allocated from the HSBC’s £8 billion SME fund of which £400 million is to support Scottish firms.