Joe & Seph’s has secured a £100,000 export deal with one of Saudi Arabia’s largest supermarket groups as the London-based popcorn brand steps up its international expansion.

The family-owned business has won an order with Panda, with the deal supported by an Export Insurance Policy from UK Export Finance.

UKEF covered 80 per cent of the order against the risk of non-payment, giving Joe & Seph’s the confidence to take on what it described as its largest export order to date.

The popcorn maker now exports to 32 countries and is targeting further growth across the US, Middle East and Singapore.

Founded in 2010 by Joseph Sopher, Joe & Seph’s produces premium oven-baked popcorn using caramel coatings made with West Country butter. The business employs more than 60 people at its London headquarters.

Director Paul Sopher said: “UK Export Finance’s support gave us the confidence to accept our largest order ever, without which we simply couldn’t have taken on the risk.”

He added that the backing had helped the company pursue an opportunity it might otherwise have been forced to turn down.

UKEF export finance manager Hitesh Patel said the deal demonstrated how government-backed insurance could help smaller food and drink businesses scale internationally.

Joe & Seph’s has already built a presence in markets including the US, Hong Kong, Australia and Europe, with the Saudi deal marking a further step in its Middle East expansion.

UKEF said it provided more than £11bn in loans, guarantees and insurance to UK exporters in its latest financial year, supporting up to 85,000 jobs.

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