A FAST-growing drinks company aims to grow its revenues by 50% this year after winning a six-figure investment from a venture capital fund.
Sunderland-based Contract Bottling Ltd has secured a six-figure sum which will safeguard the jobs of its 41 staff and enable it to take on more orders at its factory in Southwick.
The firm makes, fills and bottles a wide range of soft drinks for brand owners across the country and its products are stocked by national supermarket chains and cash and carry operators.
Contract, which was bought in a pre-pack administration from Villa Soft Drinks in January 2011, turned over £5.6m last year and is on track to grow that to £8m this year.
Managing director Martin Thornton said the backing from the North East Angel Fund would make a real difference to the company’s future.
“We are very pleased to receive this investment. We needed funding to grow the business and take advantage of the growth in this sector,” he said.
“When we talked to Rivers Capital, they could see what it was we were trying to achieve and they really bought into our vision for the future of the business.
“This investment will allow us to buy more ingredients and keep both of our bottling lines flowing, which will make the business more efficient. It’s great news for everyone involved at Contract Bottling.”