Craigton Foods has opened two new drive-thru McDonald’s franchises which will create 170 jobs.
Craigton Foods used £5 million of funding from HSBC to acquire the Kittybrewster and Inverness restaurants and refurbish existing sites.
The new franchises have already created 80 new jobs at the Kittybrewster restaurant and will generate 90 more jobs at the Inverness restaurant when it opens this week.
Family-owned Craigton Foods will see the two additional restaurants help the company double turnover to £23 million in the next year. In line with its North of Scotland growth strategy, Craigton acquired three other franchises using HSBC finance which will take the total number of operated franchises to eight.
Neal Tully, Relationship Director at HSBC, said: “Craigton Foods has demonstrated big ambition and fast growth which required finance to meet their evolving business needs. By the end of the year Craigton will operate restaurants in Fort William, Inverness, Elgin, Aberdeen and Peterhead, firmly establishing the business’s footprint across the North East and Highlands making Craigton one of the area’s major success stories.”
Craigton Foods switched full banking facilities to HSBC in February where finance was allocated from the bank’s national £10 billion SME fund to actively support UK SMEs. £450 million is specifically designated to support Scottish firms and rebalance the economy outside of London.
Craig Duncan, Managing Director at Craigton Foods, said: “It is a really exciting time for the business as we expand across our target region and realise our ambition to be a major player in the North East. HSBC’s commitment has enabled us to acquire and operate a number of new sites, leading to significant job creation and a boost to local areas. We’re grateful for their ongoing support and expertise.”