Pip & Nut has secured record new investment in excess of £1 million, as well as a raft of new supermarket listings.
The investment, which includes participation from existing investors including food and drink industry expert Giles Brook, will be used to drive the brand’s next phase of growth as it aims to hit a retail sales value of £25 million by 2020.
Pippa Murray, founder, Pip & Nut, says: “This is our most significant fundraise, one we believe will not only accelerate our ascent in the nut butter category but take us closer to our goal of becoming one of the nation’s favourite healthy food brands. We’ve had a phenomenal start to the year and are thrilled that key retail partners are continuing to recognise both our performance and potential, significantly increasing our fixture space, along with launching new lines.”
This is our most significant fundraise, one we believe will not only accelerate our ascent in the nut butter category but take us closer to our goal of becoming one of the nation’s favourite healthy food brands
“Having worked with Pip & Nut since inception, I’ve been able to witness first hand the incredible amount of dedication and passion that has gone into growing the brand over the past three years, particularly Pip’s total obsession with trying to surprise and delight consumers every single day,” says Brook. “This investment marks a significant step change for Pip & Nut where it looks to carve deeper inroads in the UK, launch exciting innovation into new categories and start to expand the brand overseas. I’m really excited about this next chapter and believe Pip & Nut is set to become a landmark food and drink brand in the coming years.”
Pip & Nut has also secured major wins in Tesco and Sainsbury’s, both of which will extend the brand’s product portfolio in their stores, the latter also adding 225 new stores.
In addition it has just introduced a limited edition Chocolate Orange Almond Butter variant in what the brand calls a UK first.