Just a few days after launching its equity crowdfunding campaign on Crowdcube, healthy snack brand I Love Snacks has successfully secured its initial £100,000 funding target and raised over£180,000 from nearly 250 investors.
The company, which launched in retail earlier this year, stated that it sells snacks such as Natural Italian Olives, Mango, Baby Pineapple, Smoked Almonds, and 70% Cocoa Belgian Chocolate in convenient portion control sizes that helps consumers maintain a healthy balanced diet.
“Our current routes to market cover travel catering, health food stores and speciality foods. We’ve expanded our online stockists, allowing customers to purchase our products on Amazon, Earth Miles and the Food Market.As well as snack subscription boxes including Healthy Nibbles, Primal Snack Box, Office Drop, Tout Mange and Foodist in Germany.”
Further products will include Melon and Rice Chips. I Love Food also revealed it has sold more than 30,000 snacks with over 150 stockists. Funds from the Crowdcube campaign will be used for the following:
- Expand the team by hiring industry professionals, including a sales/operations team, and marketing/social media professionals
- Register a worldwide trademark
- Cover listing fees with our distributors
- Research and develop new products
The company added:
“In the future, we aim to target an acquisition by a larger company with compelling synergies. There have been a number of acquisitions made in the snacks market – notably Urban Fresh Foods (Maker of Urban Fruit and Bear Fruit Snacks) was acquired for £70 million and Tyrrells Crisps for £300 million.”
I Love Food’s Crowdcube campaign is set to close on September 30th.
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