Denholm Seafoods secures eight figure funding package
The Peterhead-based business, which processes herring and mackerel caught from sustainable fisheries, planned to use the funding to expand in European and Asian markets and promote the quality of its Scottish origin fish.
Commenting on the package, Denholm Seafoods director Allan Stephen said: “Our growth plans are ambitious and, by utilising this funding, we’re excited to enter new markets and grow in existing ones. It is the quality of our product, coupled with this additional funding that will afford us this opportunity.
Sustainability and future growth
“As we invest in the future of Denholm Seafoods, we intend to progress the sustainability of our operations, by reducing our environmental impact as we drive the growth of our business forward.”
The funding package was backed by a £15m General Export Facility (GEF) backed by UKEF, the government’s export credit agency. The scheme, launched last December, has reportedly provided more than £120m for businesses across the UK.
Mike Freer MP, Minister for 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 to the world.
Leveling up exports
"We export iconic food and drink products to over 200 countries, supporting jobs and growth, promoting the Union and helping to level up every part of our country. With the help of UKEF’s popular new General Export Facility, we hope to see British products in every supermarket in the world.”
Denholm Seafoods currently exports 80% of its product while the remaining 20 per cent supplies major retailers in the UK market. The seafood business is part of the Denholm Group which operates across four sectors: shipping; logistics; seafoods; and industrial services.
Meanwhile, Direct-to-consumer infant and toddler nutrition firm Mamamade has secured £1.5m of investment through crowdfunding platform Seedrs, more than 300% of its initial investment target.
