A DRINKS company has received a significant investment from a private equity house to enable it to expand.

Intercontinental Brands, which is based in Harrogate, North Yorkshire, and employs more than 100 staff at a bottling facility on Teesside, secured the undisclosed amount from LDC.

The investment will be used for strategic acquisitions and to broaden its European distribution base.

Intercontinental Brands was formed in 1990 by Paul Burton and John Hibberd as a distributor of MD20/20, a flavoured fortified wine. Today it manufacturers drinks including St Helier pear cider, Vodkat light spirit and "The Italian Job" wine range.

It also distributes more than 260 alcoholic and non-alcoholic products to supermarkets and retailers across the UK, as well as supplying customers in Hong Kong and Germany.

It will look to expand its export markets following the deal.

The company has a research and development centre in Middlesbrough, as well as a mixing and bottling facility, which produces nearly three million cases every year. Since 2003, turnover has doubled to £43m and is expected to increase substantially over the next two years.

LDC, which has 11 offices, including one in Newcastle, is part of the Lloyds TSB Group and backs management teams from UK-based companies seeking between £2m and £100m of equity.

John Swarbrick, senior director of LDC in Yorkshire, said: "Intercontinental Brands boasts a significant portfolio of beverages, strong long-standing customer relationships, a fast and effective new product development capability and a flexible and efficient manufacturing facility."