A North Wales chocolatier has expanded production following a major funding boost.
Richard Holt operates a chocolate factory and café at a former mill at Melin Llynon, near Llanddeusant on Anglesey, where he has been crafting his Siocled range of Welsh chocolates, along with a range of Anglesey-branded donuts.
A loan of £150,000 from the Development Bank of Wales, £84,000 from Bathgate Business Finance’s own funding book, Bathgate Capital, and a further £30,000 brokered by Bathgate from a specialist funder, is now enabling him to increase production with a newly refitted factory at nearby Llangefni.
Mr Holt is confident that the new factory, which provides more floor-space than the former production facility at Melin Llynon, will allow the business to expand.
This is the second time the business has received support from the Development Bank, following an initial loan of £30,000 in 2019.
Mr Holt, a former pastry chef and star of S4C’s pastry programme Yr Academi Felys (The Sweet Academy), said: “We’ve seen so much success in the last few years, and we wanted to make sure we could answer that increased demand by building up our capacity and taking on newer, bigger production premises. The new factory in Llangefni is exactly what we needed, while also allowing us to keep making chocolate locally and retaining important jobs on Anglesey.
“We’re so pleased with the support we had from the Development Bank of Wales and co-investors Bathgate – it’s allowing us to expand our operations at exactly the right time.”
Andrea Richardson, senior portfolio executive at the Development Bank of Wales, said: “It was a pleasure to work with Richard and the team at Mr Holt’s. They have a distinctive Welsh brand with a popular product, and their unique chocolates get mouths watering across the Ƶ and beyond.
“We’re proud to have supported them as they look to rise to new opportunities thanks to their rapidly growing profile. We wish them the very best as they continue with their future plans.”
Tracey Hamilton, BDM from Bathgate Business Finance, said: “Richard, his family and his team of chocolatiers have created an excellent product that is already a Welsh gifting staple and in huge demand further afield too.
“A great deal of creativity and imagination has gone into developing confectionery brand, and the factory site into a fantastic and engaging attraction too, with a chocolate factory-themed escape room and activities to attract visitors to the area too.
“Richard has not only developed a unique and delicious product, but he has also created jobs for local people and delivered affordable luxury for his customers.”
