From pipe band to premium exporter: Scottish shortbread firm scales global sales with UKEF support
Government-backed finance helps Aberdeenshire's Dean's of Huntly scale up production and meet growing export demand across four continents.
Dean's of Huntly shortbread sandwiches
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A £1 million trade loan, guaranteed by UK Export Finance, enables Dean’s of Huntly to meet rising export demand in Australia, China, Japan, the US and Europe
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Dean’s recent growth includes the acquisition of fellow Aberdeenshire shortbread maker Duncan’s of Deeside, taking local jobs from 140 to 200
Dean’s of Huntly, a premium Scottish shortbread maker, has secured a £1 million trade loan, guaranteed by UK Export Finance (UKEF), to scale production and meet export demand across Europe, North America, Asia and Australia.
The Aberdeenshire business received the loan from Bank of Scotland, backed by UKEF’s General Export Facility (GEF) – a loan guarantee designed to unlock flexible finance for small and medium enterprises seeking to boost their exports.
The GEF-backed loan will enable Dean’s to ramp up production and fulfil orders across Australia, China, Japan, the US and Europe, while investing in solar panels and upgraded equipment to boost efficiency and sustainability. Together, these improvements will cut the company’s carbon emissions by 49.5 tonnes per year – the equivalent of a petrol car travelling around the Earth 5 times.
These developments continue Dean’s sustained growth journey, following last year’s acquisition of Duncan’s of Deeside, a fellow Aberdeenshire shortbread specialist. This expansion has brought an increase from 140 to 200 in full-time local jobs.
Minister for Trade Anas Sarwar said:
Scottish shortbread is enjoyed across the world and it’s fantastic to see UKEF back Dean’s of Huntly as they expand into exciting new markets.
By helping businesses access the finance they need, UKEF is supporting our world-class food and drink sector to succeed and drive growth across the UK.
The family-owned company traces its origins to 1975, when Helen Dean baked homemade shortbread to fundraise for the local Huntly Pipe Band, where her husband was drum major.
Since then, demand for Dean’s shortbreads and biscuits has gone global, with an increasing part of turnover coming from exports. Dean’s products are now sought around the world for holiday celebrations ranging from Christmas to Lunar New Year.
Lara McGrath, Export Finance Manager at UKEF, said:
Dean’s has established a reputation for producing premium shortbread enjoyed by customers around the world. We’re proud to work with Bank of Scotland to unlock the cashflow the company needs to meet rising export demand, while investing to future-proof its business.
Bill Dean, CEO at Dean’s of Huntly, said:
The flexible support from UKEF and Bank of Scotland means we can fund overseas orders and smooth the peaks and troughs of seasonal demand, while at the same time continuing to invest in production capacity and sustainability.
Michael Thomson, Relationship Director at Bank of Scotland, said:
Dean’s is a fantastic Aberdeenshire success story. From launching in Huntly to now shipping across four continents, it has grown into one of Scotland’s most recognisable food brands.
The UKEF-backed facility has unlocked further export opportunities and gives Dean’s the flexibility it needs to fund overseas orders, invest in production and support its continued growth and contribution to jobs in the North East.
Smaller businesses like Dean’s are central to UKEF’s plan to boost UK exports. UKEF is backing businesses and driving UK growth. By 2029, UKEF aims to support UK firms to win over £12.5 billion of new export contracts through its world-leading export finance offer.
Over the last financial year, UKEF provided over £11 billion in loans, guarantees and insurance to help UK companies export and grow, supporting up to 85,000 jobs and contributing up to £6.4 billion to the economy.