Chocolate manufacturer secures funding for growth
- By editor
- 2 days ago
- 2 min read
Edinburgh chocolate manufacturer COCO Chocolatier has secured a funding package from Virgin Money, backed by UK Export Finance (UKEF), the UK government’s export-credit agency, to refinance recent acquisitions and support international expansion.
The chocolate business, based in South Queensferry, is part of the Made Uncommon group, a portfolio of premium confectionery brands. It was established in 2004 and has been led by founder, Calum Haggerty since 2013.
The company sources cocoa from single-origin Colombian supply chains to help ensure fair pay and good working conditions for farmers. COCO Chocolatier also commissions artwork from independent artists, which is featured on the packaging of its hand-wrapped chocolate bars.
The deal with Virgin Money and UKEF has allowed the firm to refinance a short-term bridging loan, used to acquire three new confectionery brands (Love Cocoa, H!P and Seed & Bean), which has doubled the group’s revenue over the past four months.
This has also helped COCO Chocolatier to free up capital for further investment and opened new opportunities for growth in North America, Europe and Australasia.
A tailored funding package was completed, issuing a general export facility (GEF) loan with an 80 per cent guarantee from UKEF. GEF offers flexible guarantees that help UK exporters, especially smes, to access working capital, improve cashflow and grow their international trade.
Craig Wilson, head of FX sales & trade finance at Virgin Money said: “Coco Chocolatier is a great example of how a willingness to take the leap and invest in UK and overseas expansion can help a manufacturer to reach its full potential.”
Calum added: “Refinancing the original acquisition bridging facility was an important step for the business. Over the past four months we have integrated several well-known confectionery brands into the Made Uncommon portfolio, effectively doubling the size of the group.
“The support from Virgin Money and UKEF has allowed us to stabilise the capital structure while freeing up working capital to focus on growth. Our ambition is to build Made Uncommon into a leading house of premium confectionery brands, with a strong focus on export markets including North America, Europe and Australasia.”
Photography: COCO Chocolatier
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