Cornish Sea Salt invests £1.3M, creating 25 jobs

The salt firm, based in the Cornish town of Helston, has 29 staff members at present and hopes to hire 25 more employees over the next 18 months.

The investment comes after the company secured £975,000 growth capital funding from Santander and a £307,000 grant from Cornwall Marine Network.

‘Expand production facilities’​

Cornish Sea Salt chairman Mark Sullivan said: “​We are delighted to secure the support and funding from Santander’s growth capital fund which will allow us to expand our production facilities and support our growth ambitions.”​

The company announced plans to target increased international growth in response to strong demand for its “high-profile”​ retail products. 

It said that revenue for its 2015 financial year was forecast to grow 28% year-on-year to £2.3M, with earnings before interest, taxes, depreciation and amortisation up 229% to £230,000.

Santander Corporate and Commercial’s growth capital director Peter Abel said the firm already exported to more than 30 global markets.

‘Strong organic growth’​

“The Cornish Sea Salt Company is benefiting from strong organic growth both in the UK and internationally as well as through a broader product range,” ​Abel said.

“I’m delighted that Santander has been able to support the business in such a significant way and I’m looking forward to its continued success and growth.”​

Established in 2007, the company produces pure, unrefined and natural sea salt. It is also looking to create a therapeutic and spa products range.

Its customer base includes food manufacturers, wholesalers, and retailers including Waitrose, Asda, Tesco and Sainsbury.