Lye Cross Farm, a UK-based cheese manufacturer, plans to expand its processing capacity by nearly a third at its milking and packing facilities.
The project is backed by a finance package from HSBC's Devon and Somerset Commercial team in a deal led by Senior Agriculture Manager Debbie Bunclark.
The company intends to increase production by 1,000 tons to 4,500 tons a year. In line with this, it established a milking parlor facility, increasing its capacity to milk 600 cattle from 400 earlier.
In addition, it upgraded its packing facility with a new packing line and increased its ability to pack 20g to 40g 'mini' cheese portions, thereby doubling packing capacity from 80,000 units to 160,000 a day.
Lye Cross Farm managing director Peter Alvis said that this finance package from HSBC has enabled the business to invest to reach the next stage in its development.
"The investments we have made will have tangible benefits to the business and will enable us to sell more produce both at home and overseas."
"Our aim to grow both turnover and profitability over the next 18 months, and of course opening up new international markets will be key to that," Alvis added.
The company produces various organic Cheddar and UK territorial cheeses as well as Conventional West Country Farmhouse Cheddar and Territorial Farmhouse cheeses under the Lye Cross Farm brands.
In the UK, its products are available through its farm shop and major supermarkets, including Sainsburys, Aldi, Asda and Ocado.
