Healthy soft drinks startup Fitch Brew Co will see its annual turnover increase by 300% after securing a forecast £2.6m contract to export Stateside.
The deal to stock US supermarkets was agreed with the support of the Department for International Trade, which helped the business access “vital cashflow” in the form of a government Bounce Back loan to start production.
Fitch’s range of canned cold brew coffees and sparkling teas is low-calorie, low-sugar and made from 100% natural ingredients.
The company’s products are already available in France, Kuwait, Bahrain and Saudi Arabia. The new listing to the US with distributor KeHE – which supplies more than 30,000 stores across North America – will also see the products released online.
Plans are already underway to expand into new markets.
“Our ethos from day one with Fitch was to showcase 100% natural, real ingredients and develop craft around producing flavoursome and healthy soft drinks. We were bored of the soft drinks available on the market and with companies taking shortcuts around ingredients,” co-founder Andy Deeley said.
“Having worked on this agreement for the past 12 months, we’re now incredibly excited to be entering the US market which offers us an unparalleled opportunity.”
As the UK undergoes trade talks with the US to secure a deal after officially leaving the EU in January, UK businesses indicated tariff reductions on processed food and drinks could be highly beneficial to future business relations.
International Trade Secretary Liz Truss said: “Keeping global trade flowing is more important than ever for businesses like Fitch Brew Co.
“This is a great example of how demand in the US for UK food and drink is booming and the industry is one of many that will feel the positive impact of a free trade agreement.”