Dairy wins £1.25M funding to back expansion plans

By Michael Stones

- Last updated on GMT

BV Dairy has secured a £1.25M finance package from HSBC to fund its expansion plans
BV Dairy has secured a £1.25M finance package from HSBC to fund its expansion plans

Related tags Photovoltaics Hsbc

BV Dairy has secured a £1.25M finance package from HSBC to fund its expansion plans and the creation of 16 jobs.

The Shaftsbury dairy – which produces products for the manufacturing, foodservice and hospitality sectors – planned to equip a news chill store, expand its processing department and recruit new staff.

The firm planned to invest £500,000 to equip a new 900m2​ chill store with a modern refrigeration system. It also planned to fit 153 KW of solar PV panels to the roof of the building.

HSBC has agreed a £750,000 term loan to expand the dairy’s processing department, where raw materials are made into yoghurt, soft cheese or various types of fresh milk.

£750,000 term loan

Output will be boosted by the installation of a new blending and pasteurisation plant and additional storage silos.

Upgrading the processing department will improve energy efficiency while cutting waste, said the business.

The investment will create up to 16 new jobs. Half the new roles will created by the upgraded chill store with the balance in the processing department.

Create up to 16 new jobs

BV Dairy financial director Vaughan Heard said: “Operating from our own chill store means we are able to consistently improve the service we offer our customers, which is something HSBC has been particularly supportive of.

“We are striving to become a greener business and one that doubles in size in the next three to five years. This ambition won’t become a reality without the support and guidance offered by the bank.”

The bank’s head of corporate banking in Hampshire and Dorset added: “HSBC has considerable farming and agriculture experience which we’ve drawn on to successfully support BV Dairy over the last two years. In that time, the business has gone from strength-to-strength and this latest round of funding is testament to its success and its dedication to becoming a greener, more sustainable business.”

Meanwhile, for the latest jobs in food and drink manufacturing, visit FoodManJobs​.

 

BV Dairy’s £1.25M expansion plans

  • £500,000 to equip new chill store and fit solar panels
  • £750,000 loan agreed for processing department expansion
  • Plans to recruit up to 16 new staff

Related topics Dairy Dairy-based ingredients

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