After age 23, former brick player Scott Davis founded Hilltop Honey, with a £5,000 overdraft and previous knowledge of beekeeping and business.
Today, the 37-year-old entrepreneur has the UK’s second largest honey brand, with sales of £44 million and a range of products in major supermarkets. Davis decides to try beekeeping when a serious back injury at 22 years old failed to work for a year.
Based in his hometown of Newtown, Midwales, Davis employs 130 people. The headquarters and factory sites span four acres and produce more than 1,000 tons of honey per month. In September 2022, Davis diversified into peanut butter production at the second site.
In May 2024, Davis purchased a small putty factory of patchwork putty in North Wales. In January he acquired Waterfield, a bakery chain located northwest. The two ventures employ 350 staff.
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Born: Newtown, Paws, February 2, 1988
Education: 1999-2004: Newtown High School, left at age 16 (GCSES in history, mathematics, business research)
2004-05: New Town, Collegy Piez, One Year Course NVQ Level 2 Brick Raing
Career: 16 years old: Summer work, furniture removal
17-18 years old: bricklayer
Ages 18-21: Coal packer and digging driver
23 years old: Hilltop Honey founded
Live: Newtown, Powis, with his wife ffion and children: Evie, Eddie, Xander, new baby is scheduled for April.
If you hadn’t gotten a back injury, would you still be a brickmaker?
I would have started my own building company. I had an absolute desire to create my own business, but amazed that it became a food and drink.
My father was a retired sheep farmer, and my mother worked as a leader in the county district nurses. When I was losing my job, I was in severe pain and was referring to doctors and physics obsessively.
I spent some time playing and reading computer games. I came across a book about beekeeping and was intrigued. In March 2011, my parents bought me my first beehive for £250. I spent £100 on a bee suit.
When I recovered, I drew several houses to pay for 12 beehives. A month later, I used up the honey and sold it. Commercial beekeepers need 300 hives.
How did you create Hilltop Honey?
I was not a great beekeeper, but I quickly realized the opportunity. There were many retired people who had a lot of beehives and honey, but they had no marketing skills or desire to sell it and create a brand. The average age of beekeepers in the UK is 63.
I contacted these bee farmers. Initially they were cautious, but I went with my dad and collected some pots of honey from each farmer. I was only enough to pay for them.
The first four years on the hill were through British beekeepers. We buy honey and sell it through farm shops, delicatessen and garden centres. The real breakthrough happened in 2014 when I put British honey in Holland and Barrett and got Tesco in 2015. Other supermarkets followed soon.
I barely produce honey now, but I still visit many beekeepers to test it and make sure they are producing it the right way.
Today’s Hilltop brands are honey from around the world. We are obsessed with the source. I traveled far from the mountains of New Zealand and the Mexican plains to source the best honey from the Mongol and Hungarian forests outside.
Expanding the brand: Hilltop Maple Syrup © Charlie Bibby/ft
What did you have to sacrifice?
I had to sacrifice my time and early 20s. I packed honey, worked with suppliers, met customers, went out to meal festivals every weekend to sell honey to consumers. My friends and relatives helped me as much as I could.
What are your views on the October budget?
It’s a disaster. I don’t know what the government is trying to achieve. While increasing the contributions of minimum wage and national insurance to employers is one thing, lowering the band (secondary threshold) has been a homicide blow to part-time employment. Hilltop is planning to pay an additional £150,000 at an additional cost.
At the bakery I bought it costs 200 part-timers to hire another £500,000, which forces us to make some tough decisions. In January, they believed they could turn the business around 98 years ago, along with the purchasing process.
Do you have a pension?
I just started my private pension four years ago. For myself and my wife, this is when I feel financially capable and we pay at the maximum each year. I personally believe in the benefits of pensions, both for my team.
Are you good at personal finance?
I’m very energetic. I manage stocks, stocks and ISAs for me and my wife. There are no financial advisors. I’ve just learned how to invest myself. Hilltop has taught us everything companies need to know about how to generate profits. I read about the global economy and its impact on stocks on most nights.
Do you believe in returning something to the community?
The Hilltop Community Fund offers £10,000 grants to businesses and charities within a 15-mile radius of the factory. It sponsors local soccer teams, cricket clubs, golf clubs and rugby clubs with kits.
If you inherit £1 million, how do you spend it?
I will help my near relatives pay off the mortgage and buy the car they want. I don’t use blow-off for myself. Hilltop gave me everything I wanted. I bought an old nursing home with a large garden in January 2024 and converted it into a 10 bedroom home. My mother-in-law and my father-in-law live in an annex.
What is your best investment advice?
Stick to the sector you understand – food and drink for me – and don’t chase fast money. Please be satisfied with a stable return. There is a portion of 10% of the portfolio for other sectors of risk. Most importantly, start investing in stocks or pensions as soon as possible to benefit from the combined effects.
