December 11 2013 Latest news:
Tuesday, September 17, 2013
A Norfolk drinks producer has vowed to prove a panel of celebrity business tycoons wrong after snubbing his investment pitch on BBC’s Dragons’ Den.
John MacFarlane and his business partner Georgie Rodwell hoped to lure in the dragon’s with a £50,000 cash-injection in exchange for 25pc stake of their three-year-old business, Norfolk Cordial.
But the pair were unable to convince the self-made entrepreneurs to back their vision, amid concerns that the drinks market was too crowded and another investor would complicate their company structure, which already includes six shareholders.
However, the business, based at Matlaske near Holt, is determined to grow its market share by increasing its national –and international– presence, which already includes exports deals to the Middle East.
Mr MacFarlane said he hoped turnover would break through the million pound barrier next year, as they look to expand production and add new staff to its three-strong team.
He said: “We want to build the brand, and distribution is the key focus for us right now. Our aim is to grow our brand nationally – and we already sell in Kuwait and Qatar.
“We want to prove the dragon’s wrong . They are very retail orientated and we focus on the hospitality sector, which is not really for them.”
Two hundred jobs are set to be created after one of west Norfolk’s largest businesses was granted permission to expand its King’s Lynn facilities.