London’s Pots & Co desserts secures £1.2m to boost US growth
The business, which produces pudding pots for stockists including British Airways, Selfridges and Eat, is targeting further growth in North America, which currently accounts for more than half of its £17m turnover.
North America
Pots & Co’s products are currently stocked by Costco across the US and is now looking to secure further contracts with major US retailers including Walmart, Whole Foods and Safeway.
Pots & Co is run by founder Julian Dyer and operations director, Fraser Thomson, who was previously a chef at Michelin-starred London restaurant, The Square.
“Pots & Co has grown rapidly since we started the business in a small rented kitchen six years ago. Our success in the UK has led to significant traction in the US and we have huge ambitions to build our exports based on our continued commitment to exceptional taste and high quality ingredients,” said Dyer.
“North America has quickly become our number one avenue for international growth and will form a key part of our strategy for the foreseeable future. Having Lloyds Bank by our side has given us the flexibility to scale up at speed while targeting new contracts and maintaining our commitment to using ethically-sourced products from around the world.”
Lending commitment
The funding is part of a £2.6bn lending commitment from Lloyds Bank to businesses in the capital this year.
The business plans to boost its global sales to more than 24million units annually, supported by the loan which will enable it to increase its stock of raw materials, including imported high-grade cocoa from Fairtrade farmers in Columbia.
Terri Rose, relationship director, Lloyds Bank Commercial Banking, added, Pots & Co is an outstanding example of how a business can be sustainable in its growth through an ambitious and considered strategy for global expansion.
“We’re proud to support ambitious London brands flying the flag for British business overseas as we continue to help Britain prosper,” she said.
