Pip & Nut, the UK-based nut-butter and nut-milks supplier, is looking for more investment to help fund marketing and new product development.
The company is working with advisers Houlihan Lokey on its latest round of fundraising, which will be “primarily used for marketing, driving brand awareness in the UK, as well as supporting the launch of a number of key innovations planned to land in 2019”, the firm said.
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Founder Pip Murray said the brand had seen “amazing growth within our retailers” and “high levels of engagement” from shoppers, which “makes me all the more excited about this next phase that Pip & Nut is about to embark on”.
The plans for marketing and new products “will enable us to amplify our voice to reach more people and launch our pipeline of better-for-you products, both in and outside the nut butter category”, Murray added.
Investor and UK food entrepreneur Giles Brook is described by Pip & Nut as its “lead investor” after first backing the business in 2014.
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Pip & Nut’s products are on sale in the UK’s four largest grocers. Speaking to just-food last summer after another round of investment, Murray described the Netherlands, Norway and Iceland as the company’s “main markets” outside the UK.
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