Global drinks producer Finlays is closing in on completing a multi-million pound investment at its Hull site.
The business-to-business supplier is to launch a new cold brew coffee line this autumn, bolstering its world-leading position as the largest volume provider. The coffee extraction plant will produce for branded and own-label suppliers in the UK and European retail and hospitality sectors.
It is being built alongside the company’s tea decaffeination facility, on the east bank of the River Hull, off Lime Street. It will focus on supplying for big beverage brand owners with a full solution, from ready-to-drink to bag-in-box formats.
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Andrew Martin, group head of business development at Finlays, said: “While cold brew is already extremely popular in the US and Japan, the market is emerging in the UK and Europe. Looking at the forecast growth for this sector, there is a huge opportunity for brands to lead in this space in both retail and out-of-home. Our new facility will help these brands tap into the exciting cold brew market.”
Job numbers have yet to be finalised for the investment, made with market sector value projections at more than £75 million for Europe by 2025.
It is described as a key trend among younger consumers, and is described as a “significant value driver” as it can attract a significant premium over hot brew products.
Mr Martin said: “Cold brew is seen as a more premium alternative to traditional iced coffee. Cold brew is made by slowly steeping coffee in ambient temperature water to extract the best flavours from the bean, creating a full-bodied, rich flavour that is less acidic and bitter than hot brew. Its complex flavour profile and natural smoothness also means it offers a rich sensory experience without the need for additional ingredients.
“Cold brew is also a natural source of caffeine making it a great alternative to normally sugary energy drinks, most of which contain synthetic caffeine.”
Coffee beans are sourced from the roastery at Pontefract in West Yorkshire, with the capability to produce tailored blends.
The cold brew is triple filtered and gently extracted using a bespoke, gravity fed extraction technology that involves no heat or pressure.
It is described as preserving the character and full-bodied flavour of the coffee, allowing it to achieve the desired consistency.
Now part of Swire Group, Finlays was founded in 1750, and has been sourcing tea since the early 19th century, with coffee following quickly afterwards. It also works in botanical extracts.
The line will complement two major plants in North America and a strong presence in Asia.
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