Borough Broth aims to almost double revenue in the new year with a £7.5m ($9.9m) cash injection from UK-based investor Piper.
The London business has to date received £783,000 from angel investors and plans to move into a new production facility with its first institutional investment from Piper. Borough Broth is seeking to increase annual revenue to about £20m in 2026 from around £11m currently.
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Founded by Ros Heathcote in 2015, the company manufactures branded organic bone broths sold in Tesco, Sainsbury’s, Waitrose and Ocado, including a grass-fed beef variety, chicken pho and a fish variant.
Borough Broth will use the investment to fund its “next phase of growth”, including moving into its new plant in the same area as Greenford, west London, doubling production capacity and entering new categories such as soups, stocks and gravies, according to a statement.
A spokesperson for Borough Broth told Just Food the move into the new 27,500 square-foot site should be completed by the end of 2026 and will enable the company to double capacity, declining to provide more details.
The automated facility will be equipped with an NPD kitchen to support Borough Broth’s portfolio expansion plans, although the company was coy in revealing launch timings for the new products.
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By GlobalDataCEO Heathcote said in the statement: “I started Borough Broth to help people feel genuinely nourished by real food made the right way, and partnering with Piper means we can bring that mission to even more people.
“This partnership validates how far we have come and we are energised to grow while staying true to our principles and delivering a strong, sustainable return for Piper’s investors.”
Employing around 50 people, the company’s broths are mainly used by customers as a flavouring ingredient and to a lesser degree as a hot drink or for added protein and collagen.
Piper targets investments in the £5-25m area. Its past portfolio investments include Propercorn snacks, which rebranded to Proper, along with the Barking Heads and Forthglade pet-food businesses and Bottle Green drinks.
Rory Gibbs, a partner at Piper, said: “Ros has built a truly special brand with exceptional products and purpose at its heart. We see huge potential to grow Borough Broth into a household name, one that leads the conversation around healthy, nourishing and sustainable eating.”
