MR PAUL Grant, managing director of Mackay’s Ltd, the Arbroath-based jam and preserve manufacturer, is delighted with the faith shown in his business by HSBC, which has pledged a seven-figure sum to enable further international growth.
HSBC’s Commercial Banking team in Edinburgh liked what it saw in the firm’s books - and loved what it tasted of the firm’s products!
The award-winning, family-run Mackay’s, owner of the Mackay’s and Mrs Bridges brands, is the top global manufacturer of traditional marmalades and preserves using slow boiling, copper-bottomed, open pans.
Many supermarkets retail Mackay’s products at the quality end of their goods. And Mrs Bridges products can be found in outlets from supermarkets and delis to garden centres and souvenir shops.
The company currently exports to 50 countries, which accounts for approximately 40 per cent of its annual turnover, reported as £11 million in 2010. The support from HSBC will allow the company to expand its exporting activity; building brands in existing markets, as well as entering new territories. Its domestic business also continues to grow.
HSBC has been appointed as the company’s sole banking partner, providing numerous banking options.
Mark Tate, head of commercial banking Scotland, HSBC, said: “Since establishing in 1995, Mackay’s Ltd has built a strong international brand and the company’s growth story is a great example of what can be achieved by seizing export opportunities. I’m delighted that HSBC has been given the opportunity to partner with such a dynamic and ambitious Scottish business.”
Paul Grant added: “We currently have 100 overseas customers in 50 countries around the world and are continuing to experience rapid international growth. We’ve identified opportunities to build brand awareness in these markets, as well as introducing the Mackay’s and Mrs Bridges brands to new and existing international markets.
“The funding offered by HSBC is vital in helping us develop these business opportunities and it is extremely encouraging to have the support of a bank with such a strong global presence.”
Whilst it is early days to be talking about expanding the workforce, nevertheless Mackay’s is an oasis of optimism in today’s gloomy economic climate.