Oppo Brothers, a UK-based low-calorie ice-cream maker, has sold an undisclosed stake to private-equity investor HP Wild Holding AG.

A company spokesperson told just-food that HP Wild, run by food and drink entrepreneur Dr Hans-Peter Wild and owner of the Capri-Sun brand, had previously supplied a GBP1.5m (US$1.9m) loan which has now been converted into equity.

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Oppo Brothers, based in New Covent Garden, London, has also been given access to a GBP3m “ongoing cash facility” – which again can be converted into shares – for working capital to finance the company’s expansion in Europe. 

Founded in 2014 by brothers Harry and Charlie Thuillier, Oppo manufactures low-sugar ice cream and cheesecakes. The spokesperson said its products are now sold in 10 countries outside the UK representing 60% of its annual revenue.

Meanwhile, HP Wild has also been purchasing shares from shareholders in crowdfunding platform Seedrs and aims to own half of the company over the next two years, according to the spokesperson, who added:

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“Previous to HP Wild’s involvement we raised money via three rounds of crowdfunding on Seedrs, becoming the fastest food and drink company to reach their funding target in the first round in 2014. Over 90% of these investors have now exited on their investment (having made up to 5.5x returns) by selling their shares to HP Wild Holding AG.”

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While the Thuillier brothers remain the majority shareholders along with its employees through share options, 79 Seedrs investors own minority stakes in the business, including Mark Escolme, Oppo’s chairman, who was previously the managing director of another UK start-up, Gu Puds. 

Oppo has also brought in two senior FMCG veterans, one a former Unilever ice-cream executive, to sit on its board.

Roland Weening is currently chief executive at Capri-Sun and previously held the position of global brand director for ice cream at Anglo-Dutch consumer goods giant Unilever. The other is Remko Wessels, finance chief at Capri-Sun and a former CFO for South-east Asia and Australia at Unilever. 

Weening said: “We invested in Oppo as we believe it is the best tasting healthy ice cream around. We looked at all players in the sub-category from America and elsewhere in Europe, and tasted alongside Oppo. After due diligence we decided Oppo was the one to back. It is simply the best taste and quality, has a strong, global brand potential and will be going places, even more so now with our backing.”