Denholm Seafoods Secures Eight-Figure Funding
The Peterhead-based company, which processes herring and mackerel from sustainable fisheries, planned to use the funding to expand into European and Asian markets and promote the quality of its Scottish-sourced fish.
Commenting on the package, Denholm Seafoods manager Allan Stephen said: “Our growth plans are ambitious and, in using this funding, we are excited to enter new markets and expand into existing ones. It is the quality of our product, coupled with this additional funding, that will provide us with this opportunity.
Sustainability and future growth
“As we invest in the future of Denholm Seafoods, we intend to advance the sustainability of our operations, reducing our environmental impact while advancing the growth of our business.”
The funding scheme was backed by a £15m General Export Facility (GEF) backed by UKEF, the government’s export credit agency. The scheme, launched last December, is said to have provided more than £120m to businesses across the UK.
Mike Freer, MP, Minister of Exports, added: “Scottish seafood is renowned around the world for its quality and focus on sustainability – and I’m delighted that UKEF is helping Denholm grow and sell more around the world.
“We export iconic food and beverage products to over 200 countries, supporting jobs and growth, promoting the Union and helping to improve every part of our country. With the help of the new general export facility popular UKEF market, we hope to see UK produce in supermarkets all over the world.
Denholm Seafoods currently exports 80% of its products while the remaining 20% supplies major retailers in the UK market. The seafood business is part of the Denholm group which operates in four sectors: maritime transport; logistics; seafood; and industrial services.
Meanwhile, direct-to-consumer infant and toddler nutrition company Mamamade has secured a £1.5m investment through crowdfunding platform Seedrs, more than 300% of its initial investment objective.