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Cocoba: Kent chocolatier sweetens international markets with UKEF support
Kent-based luxury chocolate producer expands UK presence and accelerates global growth with UKEF backing.
Cocoba, a Kent-based premium chocolate producer, has transformed from a small pop-up kiosk to a thriving international business with flagship stores, wholesale operations, and a growing global footprint. Their signature products, including ‘Hot Chocolate Spoons’ and handmade Christmas chocolates, now grace the shelves of major retailers like Costco, John Lewis, and Selfridges, as well as hundreds of independent shops across the UK.
The challenge
After launching in 2012 and opening their first café in Bluewater Shopping Centre in 2013, Cocoba quickly outgrew its initial premises as demand increased. The company faced the challenge of funding its ambitious growth trajectory. As international opportunities emerged in markets including the US, Canada, and Europe, Cocoba needed significant working capital to meet seasonal demand spikes, and fund their expansion into new territories without compromising cash flow.
The solution
UK Export Finance (UKEF) provided an 80% lender guarantee through our General Export Facility (GEF) scheme, enabling Lloyds Bank to offer Cocoba a Trade Finance loan. This funding solution gave the company the flexibility to meet increasing demand and maintain sufficient working capital while pursuing their international growth strategy. The arrangement also positioned Cocoba to secure future asset financing to support their continued expansion.
The impact
With UKEF’s backing, Cocoba has expanded its retail partnerships across the UK and opened their first franchise store in Maidenhead. The company has also established a presence in international markets including Canada, the Netherlands, Spain, Japan, Australia, and South Korea. They’ve successfully broadened their product range with new collections, including the popular Gruffalo line, and last Easter they created the UK’s largest chocolate egg, weighing same as an adult American Black Bear.
We’re thrilled to be looking at the next stage of growth in line with our plans. Through our journey from a pop-up in Brent Cross, to expanding our retail partnerships and opening our first franchise store in Maidenhead, we’ve laid a strong foundation for what’s to come. The backing from Lloyds and UKEF has played a crucial role in enabling our expansion into international markets.
Support for your company’s general export business activities
Designed with SMEs in mind, our General Export Facility provides guarantees to lenders where finance is not tied to specific export contracts. It covers a range of facility types to support a company’s general exporting activities.