Shetland Mussels to double production with multi-million pound finance package

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21/09/2017

Shetland Mussels Ltd, a primary producer of rope-grown mussels in the Shetland Isles, has secured a multi-million pound finance package from Clydesdale Bank.

The company already supply over 900 tonnes of mussels to restaurants, wholesalers and retailers up and down the UK every year. This finance package will help to fund expansion through specialised new production equipment. It is expected this will more than double harvesting numbers by 2020 – from 948 tonnes to 2434 tonnes of mussels.

Creating island jobs

Shetland Mussels is owned and run by father and sons Lollie, Richard and Michael Tait. The company already provides 17 jobs in Shetland and expects to increase this to 20 by 2020.

Shetland Mussels is accredited by the Marine Stewardship Council, and forms an integral part of the Scottish Shellfish Marketing Group, through whom they distribute their annual harvest.

Understanding growth

Richard Tait, Owner & Director, Shetland Mussels, said: “Upon consulting with Clydesdale Bank, we immediately found that they understood our business model and growth aspirations. The support and commitment that the Bank has provided will enable Shetland Mussels Ltd to fully action its development plan by 2020.”

Graeme Johnston, Relationship Manager, Commercial Banking, Clydesdale Bank, said: “Richard and his team have shown great passion and determination to build this fantastic success story and our support reflects their commitment and entrepreneurial spirit. We have developed a number a strong relationships in the aquaculture sector, and with our new £6 billion lending commitment we’re looking forward to supporting the growth and prosperity of regional economies across the UK.”

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