January 17, 2017 @ 14:07 by Alison Cowie
Beanies produce over 30 flavours of coffee from their Faverdale premises, for sale at leading UK and international supermarkets as well as via local retailers and online. Strong sales growth since formation in 2012 had resulted in the company needing increased capacity. Grant support has helped the company to accelerate their expansion plans by building an extension to the factory and investing in additional flavouring machinery.
Mark Porteous, Beanies finance director said “having developed a successful brand over the past four years we were looking for some support to continue our growth. The Tees Valley Capital Grant Scheme has allowed us to make the investment needed to take Beanies to the next level. The additional machinery will not only allow us to increase production volumes but will also speed up new product development, allowing us to bring new flavours to the market faster than ever before. This will particularly help our international expansion plans, allowing us to increase our product range to cater for new markets around the world.”
Beanies were supported by Clive Owen LLP when preparing the grant application. Carl Wright, manager in the Clive Owen grants advisory team, said “It is great to see an innovative business like Beanies driving forward its growth plans. The grant offer from the Tees Valley Capital Grant Scheme has helped to unlock further private sector funding to make the project happen. The extension and new equipment will be instrumental in taking the business to the next level and will also benefit the wider Tees Valley economy by creating new jobs both within Beanies and its supply chain.”
The Tees Valley Capital Grant scheme is administered by BE Group on behalf of the Tees Valley Combined Authority. Funding towards capital expenditure projects of £33,000 or more is available until March 2018. Mike Baker, Senior Business and Investment Adviser at BE Group said “I am delighted that the Tees Valley Business Support Scheme has been able to assist Beanies in its ambitious growth and job creation plans. I look forward to seeing these come to fruition. Manufacturing, innovation and export will help to drive the long term success of the Tees Valley economy, and Beanies’ project delivers on all three fronts.”