The funding includes asset-based lending and debt refinance.

A section of the funding will also be used to reduce the amount of PET plastic in the manufacture and production of Highland Spring products. This will aid Highland Spring in its goal to decrease its use of PET plastic by 20% and increase the recycled PET plastic content of Highland Spring bottles to 50%.

Highland Spring is also investing in a new railway beside its main bottling plant, which will allow it to transport goods in a more environmentally sustainable way. This will reduce the carbon footprint of the business by significantly reducing its road miles as part of its environmental commitments.

Mark Steven, chief operating officer, Highland Spring Group, said: “HSBC UK’s funding has been instrumental in enabling the Highland Spring Group to continue to develop and implement innovative projects which support both our operational strategy and our environmental ambitions. As a responsible company, we are committed to investing in solutions which will make positive changes across our business and advance our focus on providing healthy hydration in an environmentally sustainable way.”

Ross Keenan, relationship director, HSBC UK, said: “We are proud to support businesses in the UK that are developing innovative new ways of better serving the environment and Highland Spring Group are a fantastic example of a business that is committed to developing a truly circular plastics economy in the UK and reducing its carbon footprint.”