A Scottish active lifestyle distribution business has secured a seven-figure re-financing package to help it expand and supply new distribution channels.
Edinburgh-based 2Pure employs 35 people and distributes branded active lifestyle products in the running, cycling and outdoor sectors.
It plans to use the £2.75 million funding package from HSBC UK for ongoing investment in the business by entering new retail channels, to grow internationally and for developing “brand-specific digital platforms”. The deal is split between invoice financing and structured trade lines, as well as other transactional facilities.
George Bowie, managing director of 2Pure, said: “The current consumer retail and political environments are more volatile now than ever and HSBC UK’s financial support means we can take our time to plan strategically, consolidate our recent growth and make considered plans for 2020 and beyond.
“We have ambitious plans to grow the business internationally and through new, retail channels, as well as offer the option of selling directly to consumers.”
Kenny White, relationship director at HSBC UK, added: “George has built a robust and successful business and we’re pleased to be able to help him get his business into the strongest possible position to ensure it negotiates the challenges that Brexit and other retail trends pose. George has exciting plans and we look forward to following 2Pure’s progress in the months and years to come.”