Michelin star inspired puddings manufacturer set for International Growth

A London-based premium dessert manufacturer is set to boost its international trade after securing a new £1.2million funding package from Lloyds Bank Commercial Banking, supported by UK Export Finance.

Share

 Share via LinkedIn  Share via Twitter  Share via Facebook  Share via email

Read time: 5 mins      Added: 09/10/2019

Pots & Co, which produces high-end pudding pots for stockists including British Airways, Selfridges and Eat, is targeting further growth in North America, which currently accounts for more than half of its £17million turnover.

Major US retailers targeted

The new funding facility, which is part of a £2.6billion lending commitment from Lloyds Bank to businesses in the capital this year, will enable Pots & Co to meet an anticipated uptick in demand for its products as it looks to secure contracts with major US retailers including Walmart, Whole Foods and Safeway.

Led by entrepreneur Julian Dyer and Fraser Thomson, who was previously a chef at Michelin-starred London restaurant, The Square, Pots & Co’s desserts are currently stocked by Costco across the US.

The business plans to boost its global sales to more than 24million units annually, supported by the new funding which will enable it to increase its stock of raw materials, including imported high-grade cocoa from Fairtrade farmers in Columbia.

Julian Dyer, founder of Pots & Co, said: “Pots & Co has grown rapidly since we started the business in a small rented kitchen just six short years ago. Our success in the UK has led to significant traction in the US and we have huge ambitions to build our exports based on our continued commitment to exceptional taste and high quality ingredients.

"North America has quickly become our number one avenue for international growth and will form a key part of our strategy for the foreseeable future."

Julian Dyer, founder, Pots & Co

Julian added "Having Lloyds Bank by our side has given us the flexibility to scale up at speed while targeting essential new contracts and maintaining our commitment to using ethically-sourced products from around the world."

Backing ambitious businesses

Terri Rose, relationship director at Lloyds Bank Commercial Banking, said: "Pots & Co is an outstanding example of how a business can be sustainable in its growth through an ambitious and considered strategy for global expansion. We’re proud to support ambitious London brands flying the flag for British business overseas as we continue to help Britain prosper."

All lending is subject to status.

Important legal information

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.

Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.