Just a few years after securing more than £90,000 in funding through its previous Crowdcube round, The Hebridean Food Co. has returned to the equity crowdfunding platform with a mission to raise a minimum of £200,000. The company is now offering 10.35% in equity, at a £1,732,410 pre-money valuation.
As previously reported, The Hebridean Food Co.’s products are all created to be never over processed and uses plenty of meat and packed with lots of veggies. The distributor also shared since its soup range was launched ONLY seven months, its Mussel Chowder soup has been listed in Aldi Supermarket, and two new soups to be introduced next month.
“Since the successful Crowdcube raise in 2016 the company has been gaining traction, by 2018 the company’s products had been stocked in 4 major supermarkets and is currently in talks with 3 others. In 2019 the company signed an agreement with a major supermarket with the intention to provide them with over 500,000 units of own brand soups per annum, this shows that our concept and vision is proving popular with Supermarkets and customers. Other retail clients include Sainsbury’s, Morrisons, Wholefoods market and independents.”
The Hebridean Food Co. also noted that it has experienced 172% revenue growth compared to the previous 12 months with sales of £272,966 between May 2018 and April 2019. EBITDA of (£6,180). The company added:
“The business has invested heavily in product development, working closely with a world class chef to further develop new products in the ready meal market as well as extending our range of fresh soups.”
Funds from the Crowdcube round will be used to continue the growth and development of The Hebridean Food Co. products. It is set to close at the beginning of August.
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