Kirkcaldy chocolate fountain firm Sephra secures loan

A Scottish chocolate fountain machine maker is to expand after securing a £500,000 loan.

Kirkcaldy-based Sephra will use the cash to buy the intellectual property (IP) rights to its branded products, previously held by a US company, and expand into new markets.

It now expects to hire a further 10 people and more than double turnover to £10m over the next few years.

Sephra secured the five-year loan from credit specialist Caple.

In addition to chocolate fountain machines, Sephra is a wholesale distributor of waffle, pancake, donut and popcorn makers to restaurants, cafes and hotels groups.

It also sells ingredients such as chocolate, waffle mix and crepe mix. Last year, the business sold more than 300 tonnes of chocolate.

Sephra exports to 67 countries around the world.

Managing director David Archer said: "We wanted to move quickly, secure the IP rights to our products and to press ahead with our growth plans.

"We are now able to drive innovation and expand into 20 to 30 new markets across Asia, Australasia, Central and South America, providing huge growth potential.

"By removing the need to pay royalties, we're already seeing a positive impact on the bottom line."