Marking ‘a historic moment’ in the bakery’s 35-year history, vegan bakery Clive’s has secured a ‘game-changing’ investment from Veg Capital which will enable it to drive new product development.
The vegan investment fund bought out existing majority shareholders Sally and Chris Carson, who have grown the business over the past 17 years. Clive’s MD Esther Pearson continues to hold a share in the business and under her management, the company will continue to expand its range and work towards increasing production by 400% to reach £10 million sales.
“We’re over the moon to have the backing of Veg Capital,” comments Pearson. “It marks a new era for Clive’s, one where we can continue to expand, innovate, and help shape the future of plant-based eating. We’ll always stay true to who we are, focusing on food that tastes good, and does good.”
This partnership has huge potential to further our mission of replacing animals in the food system
Matthew Glover, MD of Veg Capital and co-founder of Veganuary, adds: “This is such an exciting investment for us. Clive’s offers the best of both worlds – over 30 years of invaluable experience, with all the ambition, scope for growth and enthusiasm of a start-up. This partnership has huge potential to further our mission of replacing animals in the food system, and we’re thrilled to be working together.”
Earlier this year, the team at Clive’s launched the UK’s first ever vegan Quiche Lorraine and in September it launched its first ever puff pastry pies, a Beefy Ale Puff Pie and Chickeny Puff Pie, which both feature seitan.
Clive’s was founded in 1986 by Devonshire foodie Clive Lowe, who began selling the brand’s signature Creamy Mushroom Pie from the back of his bicycle. In 2020 the company relocated to a new purpose-built site in Dartmouth, four times the size of its previous home in Buckfastleigh, bringing almost 50 new jobs to the area.
Pictured: Esther Pearson, Matthew Gover, Sally Carson and Chris Carson