Oldham drinks manufacturer Freez Global Ltd has secured a £25,000 investment from NPIF – BFS & MSIF Microfinance a product fund managed by GC Business Finance in partnership with MSIF and part of the Northern Powerhouse Investment Fund.
Freez Global is currently working with the Department for International Trade and was introduced to GC Business Finance to help with the funding requirements to support their overseas expansion. The £25k investment will fund an ambitious growth and export plan.
From their base in Chadderton, Freez Global designs, manufactures and distributes a range of non-alcoholic carbonated drinks aimed at the adult market, with flavours including Miami Blue, Strawberry, Kiwi, Lemon, Appleberry and Mango.
The company currently supplies retailers in the UK, Europe, US, Australia and will be using the funding to break into the Middle East market. Owner Tasadduq Ashraf will also be creating three new roles to provide logistic support and machinery operation as well as investing in additional stock and bringing bottle labelling capabilies in house.
Tasadduq Ashraf from Freez Global said:
“Having built the business up ourselves for the last four years we had reached a point where we needed an extra injection of funding to really grow our export market in particular. The support from GC Business Finance puts us in a really strong position to develop our brand and to streamline and improve our production processes, all of which will enable us to create more jobs in Oldham as we grow.”
Mark Gibbons, senior loan manager at GC Business Finance, said:
“Tas has already proved that there is real demand for the Freez Global products, both in the US and Europe. With the support of the Northern Powerhouse Investment Fund, he now has the agility and ability to pursue and maximise these sales opportunities quickly and cost effectively.”
Sue Barnard, senior manager at British Business Bank, said:
“Freez Global already has an international presence, which is impressive for a company of its size. It is important that SMEs look into exporting, as it can encourage huge growth through increased sales and brand recognition. With the Middle Eastern market in its sights, Freez Global is in a good position to capitalise on thriving markets overseas, and NPIF is proud to support this ambition.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The MSIF group of funds are managed by Alliance Fund Managers Limited which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.