Producing over two million Smoothie Kits, PACK’D is a natural nutrition brand on a mission to fuel potential. Grown from a Prince’s Trust market stall to one of the UK’s ‘Top 50 Startups’, the company now has over 1500 product listings including Sainsburys and Ocado. With the help of more than 458 investors, PACK’D has raised over £534,365 for 10.87% equity and is currently overfunding on Crowdcube.
Valued at £4,383,000, PACK’D Smoothie Kits are used straight from the freezer, and adding and blending one’s choice of liquid. Funds will be raised for new product development, stock for new listings and marketing in order to drive product awareness.
Founded in the UK by Alex Stewart and Luke Johnson in 2014, PACK’D frozen smoothie kits are currently sold at several locations, including Whole Foods, Sainbury’s, ocado, Planet Organic, Costco and The Grocery. The startup is poised to expand into the Home Blending, UK Juice Drinks & Smoothies, Nutrition on Demand/ UK Online Grocery and UK Frozen Food markets.
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With regard to PACK’D’s ability to scale, Johnson responded to a potential investor,
“We build stock to meet demand and the rise in volume last year is an example of our ability to scale as revenues increase. We are also holding more stock as a contingency, to ensure we maintain supply in good time. We do not have any redundant stock as all lines are active…Our payment terms and stock holding vary from supplier to supplier. The increase in stock vs creditors was due to the decision to hold more stock as a contingency to ensure we always maintain supply with our customers. Some of the extra stock had already been paid for by 31st March 2018 meaning that creditors were not as high.”
PACK’D shareholders include Peter Lassman, Paul Bentham, Jamie Jackson, Robert Porter-Smith, Parminder Kohli, Simon Gordon and Peter Bellman.
The PACK’D crowdfunding campaign on Crowdcube closes tomorrow.
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