Following the investment, the family-owned County Armagh manufacturer won new contracts from Booths in the North of England and Aldi; both in the UK and the Republic of Ireland.
The finance deal will allow the business, in addition to adding extra products to its range, to bring all its production facilities in house.
The business operates in three sectors – food manufacturing, fruit growing and industrial warehousing/storage solutions.
Alan Davison, joint md at Davison Canners, said: “Our orchards complement the food production that is now on site, we have full control over our products and the ability to innovate further.
“It provides us with a great opportunity to add further value to our initial product range of fruit compotes, fillings, jams and sauces, giving us complete control of our products from primary processing through to marketing and point of sale retailing.”
The investment had enabled the business to boost the efficiency of the supply chain, he added. “We’re exploring more opportunities for growth and are excited about what the future will hold.”
Davison Canners said its long-established relationship with HSBC had proved key in its aim of becoming a diverse supplier of high quality food products and storage systems to a wide customer base.
HSBC’s deputy area director in Northern Ireland Chris McQuay said: “We’ve supported Davison Canners since 2010 and in this time we’ve seen rapid growth as the business expands and exports its products further afield.
“Through diversification Davison Canners has opened up enormous channels for growth. It is an exciting and evolving business that is delivering quality products, making efficiencies and already reaping the rewards through winning additional contracts.”
The investment was allocated from HSBC’s national £10bn SME [small to medium-sized enterprise] Fund. A total of £100M is designated to support SMEs in Northern Ireland.
The latest deal followed a previous funding package of £400,000 from HSBC in 2015 that was invested in a jam, compote and sauce manufacturing facility on site.
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Meanwhile, Davison Canners was a finalist in the Chilled Manufacturing Company of the Year category of the Food Manufacture Excellence Awards. The category winner and overall Food Manufacture Company of the Year was SK Chilled Foods. Read the full list of winners and finalists here.