Polar Krush expands brand with purchase of competitor
An Ashington company is pushing on with plans to expand its brand following a Â£1m refurbishment of its factory.
Iced drinks company Polar Krush has announced its first acquisition in the purchase of competitor Slushee UK.
Slushee UK is the fourth largest player in the UK consumer frozen drinks market and the acquisition strengthens Polar Krush’s position.
The purchase includes Slushee UK’s large fleet of machines, situated in stockists across the UK leisure sector.
Last year the Polar Krush factory underwent a £1m factory refit, which increased the team’s output by 500 percent.
Paul Goldfinch, owner and managing director of Polar Krush, said: “The two businesses will work synergistically together and we are very much looking forward to welcoming the Slushee UK stockists into the Polar Krush family.
“We will be visiting all of our new clients in the very near future and we are sure that current Slushee UK stockists will appreciate the benefits of the joining of the two businesses.”
He added: “This purchase will not only strengthen our position in the UK market, but also allows us to gain significant international business in Europe, complimenting the growth Polar Krush has already seen on the continent this year. We have exceeded our export targets by far this year and are now trading in France, Spain, Portugal, Holland and Sweden.
“We have ambitious growth targets and the acquisition of Slushee UK will help us to expand the business.”
The factory investment has allowed Polar Krush to increase the number of engineers and sales people in the field, as well as increase employment at the factory as the business continues to grow.