Infusion gets HSBC financial support for expansion
Infusion, a UK-based tea and herbal drinks packaging firm, has received around £1m in financing from multinational banking and financial services firm HSBC.
This investment will be used to invest on a tea bag packaging machine from Italy, the company said.
The new packaging equipment, which is expected to increase the company's production capacity by 35%, will produce tea bags in a wide range of formats, including a non-staple tag and envelope style.
Infusion noted that it received the financing from HSBC's Gloucestershire Commercial team in a deal led by Senior International commercial manager Steve Breckon.
Infusion director Bruce Stevens said that the company has experienced strong organic growth in recent years and the driver behind that is largely the popularity of herbal teas, in addition to its on-going investment in up-to-date technology and quality standards.
"HSBC's support is important to our expansion plans but Steve and the team there can see where we want to take the business and also the potential of our market sector," added Stevens.