Devon cheese and butter wholesaler Millbrook Dairy has secured a £4m funding deal to support European growth plans.
The Bideford-based business is looking to double it exports sales - which already account for a fifth of its current total - across the continent over the next three years.
The company said it was looking to drive growth from its office in the Netherlands, from which it sources cheeses locally and sells to cheese specialists, manufacturers and retailers in markets such as Belgium, Germany and Poland.
Established in 2018 by Kevin Beer and David Evans, Millbrook said its turnover had increased from £15m in January 2020, to £26m in January 2022, and that it was on track to achieve annual revenue of £40m in January 2023.
Mr Beer said the new funding, secured through Santander bank, would enable the firm to “amplify and accelerate” its growth by expanding its range, volumes and market reach domestically and overseas.
Steve Tyers, relationship director at Santander UK, added: “We are proud to have become Millbrook Dairy’s banking partner, supporting the next phase of its growth strategy. Our funding package will help this entrepreneurial business expand further in the European and UK markets and we look forward to working together to deliver growth globally.”
Millbrook has recently expanded into the trade butter sector, focusing on butter portions for airlines, railways and cruise liners, and bulk butter for bakeries, patisseries, food service and manufacturing sectors.
As well as sourcing products from across the UK, Ireland and Australasia the firm also sells its own brand of Scottish cheddar, 1057, and Irish cheddar, Seanachai.
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