Blanco Niño is enjoying a strong return to Crowdcube. Five years ago the startup raised over £123K on its first campaign, overfunding by 206% with the help of 100 investors. As of today, Ireland-based Blanco Niño has secured over £183,250 from 86+ investors, quickly surpassing its 60% campaign target milestone. With a target goal of £300,000, and 23 days remaining on the campaign, Blanco Niño is offering 5.17% equity for its £5,500,000 pre-valued company.
So what’s happened since the last campaign? Founder & CEO Phil Martin established one of Europe’s first authentic Tortillerias, and Blanco Niño has reportedly sold over 15 million corn tortillas. Now Blanco Niño is planning to manufacture and launch its premium corn tortilla chips into supermarkets across Europe.
According to the campaign, Blanco Niño’s tortillas are now available in 13 European countries via 24 distribution partners, including Brakes, Musgraves, Hendersons, Funnybones, Atlanta, SDV, Pier 7, Fort Deli, LA foods and Foodservice Danmark. Prior to this campaign, £1.6M has reportedly been invested in the Blano Niño’s business establishment and its marketing development, with the aim of further tapping into the £1.45B tortilla chip market with the expectation of a further 32.65% growth over next 5 years. That’s a lot of chips.
Recognized as high potential start up status by the Irish government, Blanco Niño is on a mission to disrupt the European foodservice tortilla market through the creation of a premium corn tortilla category. Current partners include restaurant groups like Wahaca, Casual Dining Group, Peach Pubs and The Restaurant Group.
Here’s how Blanco Niño is planning this next stage of growth:
“It’s the management’s market assessment that retail tortilla chip sales are not currently growing in line with public interest in Mexican cuisine, and that this reflects a disconnect between consumer expectations and current product offerings. This represents a challenge for retailers and a market opportunity for Blanco Niño,” according to the campaign. “Blanco Niño’s proposition to retailers is to increase their revenue and profitability by attracting new customers into their tortilla chip category with a new premium tortilla chip offering. This offering meets the ever-increasing quality expectations of consumers. Expanding and completing the ‘good, better and best’ quality spectrum, with Blanco Niño aspiring to be the ‘best’. Planning to launch in the summer of 2019, the team is in conversation with multiple European retailers.”
A little more about Blanco Niño’s backstory:
“After launching a Mexican restaurant in Dublin, I quickly realized that no-one was making proper corn tortillas in Europe. I set out to Mexico to learn how to make tortillas from the people that know best,” shared Blanco Niño CEO & Founder Phil Martin via Crowdcube.
While in Mexico, Martin “discovered” the ancient Aztec recipe that gives corn tortillas their unique flavour. Visiting the milpas, molinos and tortillerias of Mexico, he learned how to make proper corn tortillas, like the ones found in the street markets of Oaxaca and Mexico City and established an authentic Tortilleria. Three new chip favors are planned to be released late this year:
“Authentic tortillas should be made with corn, it’s why our tortillas chips taste exactly like the ones you’ll find all over Mexico. We’ve created our all-natural corn tortilla chips, made to traditional recipes so more people can discover the unique tastes of Mexico, a little closer to home.”
For more campaign details and updates, please click here.
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