Mackays eyes further jam tomorrow after funding deal

Marmalade and jam producer Mackays is looking to spread further afield after securing seven-figure funding from HSBC.

The Arbroath-based firm, which makes a range of preserves and traditional curds, said the cash injection would allow it to expand in both domestic and international markets.

Mackays is one of a handful of firms that still use the traditional open pan, slow-boiling method of making jam.

The company, which also owns the Mrs Bridges brand, exports to some 50 countries, which accounts for about 40 per cent of its 11 million annual turnover.

Managing director Paul Grant said: "We currently have 100 overseas customers in 50 countries and are continuing to experience rapid international growth.

"We've identified opportunities to both build brand awareness in these markets, as well as introduce the Mackays and Mrs Bridges brands to new international markets."

Mark Tate, head of commercial banking Scotland, HSBC, added: "The company's growth story is a great example of what can be achieved by seizing export opportunities.

"I'm delighted that HSBC has been given the opportunity to partner with such a dynamic and ambitious Scottish business."

The deal was struck with HSBC's commercial banking team in Edinburgh.