A Leicestershire gin distiller business has secured a £250,000 investment to scale-up its operations and create new jobs.
Burleighs Gin secured the finance from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
The funding package will enable Burleighs Gin, based at Bawden Lodge Farm, Loughborough, to expand its operations. Five full-time jobs within its sales and operational functions will be created as the brand focuses on developing its premium brand gin range with two new products in the pipeline.
The funding will also allow the company to further establish its export sales - expanding its presence in Europe and the Far East, with further plans to expand into the United States.
Sam Watson, Commercial Director of Burleighs Gin, commented, “These are exciting times for Burleighs Gin as we have a clear vision as to where we wish to take our business. We are aiming to expand the brand overseas and continue to grow in the UK. We are due to launch two new marketing campaigns to support the forthcoming product launches and would like to extend our thanks to Chirag, at The FSE Group, for helping us to source the funding which will enable the business to pursue its growth ambitions and keep the day-to-day sales, distribution and operations fluid whilst we look to the future.”
Chirag Mistry, Fund Manager, at The FSE Group, which manages the MEIF Debt Finance Fund adds: “We are proud to have supported Burleighs Gin with its expansion plans. The job creation will have a positive impact on the local economy and further strengthen the future of the business. Through the Midlands Engine Investment Fund, The FSE Group is committed to providing finance for innovative Midlands’ businesses with the potential to grow.”
Lewis Stringer, Senior Manager at the British Business Bank, said: “The MEIF Early Assessment Report, published last year, evidenced the Fund’s role in driving forward exports, growth and job creation in the region’s businesses. We’d encourage other businesses in the Midlands looking for finance for growth to consider the options available through the MEIF.”
Kevin Harris, Chair of the Leicester and Leicestershire Enterprise Partnership Limited (LLEP), said: “It is great to see a growing Leicestershire business receive this type of funding through MEIF. The £250,000 investment will help Burleighs Gin to expand and reach its full potential, which is exactly what the fund was set up to achieve. Burleighs Gin is proof that despite the current economic climate, those businesses that can see a global future for their products have many opportunities to thrive, and I wish them every success with establishing its brand in these new markets.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and industrial Strategy (BEIS). Deadline for CBILS applications has been extended to 31st March for UK businesses.