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A Strood-based chocolatier, which created headlines before Easter for creating the biggest chocolate egg in the UK, is using the positive publicity - and investment funding - to fuel its expansion plans.
Cocoba, which has an outlet in Bluewater and a factory in Medway, is now rolling out its products through a host of new international retail partnerships and has just launched its first franchise store in Maidenhead, Berkshire.
Its expansion has been supported by a Trade Finance loan from Lloyds, which has helped the company to purchase top-quality chocolate. Additionally, support from UK Export Finance (UKEF), through the General Export Facility (GEF) scheme, has unlocked further funding. The business is also working with the bank to secure future asset financing to support further ambitious growth plans.
Darren Litton, founder and CEO of Cocoba, said: “We’ve laid a strong foundation for what’s to come. The funding from Lloyds will play a crucial role in supporting this next phase of our expansion.
“With this additional support, we’re able not only to purchase the finest chocolate, but also pursue our broader ambition to bring Cocoba to retailers nationwide, and further into international markets.”
The company’s products are now available in Spain, Canada and the US, and launched in Japan, Australia and South Korea last year.
In the UK, its chocolate can be found in major retailers, including Selfridges, John Lewis and Costco, as well as farm shops, delis and other speciality chocolate sellers nationwide.
James Pile, relationship director at Lloyds, added: “Cocoba is a great example of a business that is passionate about its products, and we look forward to continuing to support them as they embark on this exciting growth phase. Darren and his team have a clear vision for growth, and we’re excited to see their plans take shape.”