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January 20, 2021

The Good Food Fund backs UK challenger brand JimJams Spreads

UK challenger brand JimJams Spreads has received backing from a local investment vehicle, it has been announced.

By Leonie Barrie

UK challenger brand JimJams Spreads has received backing from local investment vehicle The Good Food Fund.

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What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

The fund, which backs better-for-you brands, has paid GBP200,000 (US$273,515) for a minority stake in the business. It is the fund’s second investment, although the identity of the first company to receive its backing has not been made public.

Early stage venture capital firm Ascension Ventures manages the GBP1.8m fund on behalf of Big Society Capital and Impact on Urban Health, a part of Guy’s & St Thomas’ Charity. 

The fund’s accelerator programme is managed by Mission Ventures, which was established by food industry entrepreneurs.

Launched in 2015 by parents Kevin and Kellie Bath, JimJams, based in Essex, north of London, makes chocolate and hazelnut spreads with no added sugar. They are sold via major supermarket chains including Sainsbury’s, Morrisons and Asda.

JimJams’ product range, which also includes chocolate dippers, fits with the fund manager and Mission Ventures’ stated intent of backing “market-led solutions” to childhood obesity with equity and business support. 

Kevin Bath said: “The investment from Good Food Fund is a massive boost for our growth. The additional support from Mission Ventures will help us immeasurably in shaping the business and continuing to offer parents healthier options to everyday snacks and store cupboard staples.”

JimJams will receive 12 months of free business acceleration support  provided by Mission Ventures as part of the investment package.

Mission Ventures CEO, Paddy Willis said: “We’re delighted to continue to support Jim Jams in providing healthier alternatives for families without compromising on taste. Our accelerator programme is run by entrepreneurs for entrepreneurs and designed to optimise their chances of scaling successfully.”

Mission Ventures was launched last March by Willis, co-founder of the Plum Baby brand, alongside John Stapleton, co-founder of New Covent Garden Soup and Little Dish and Nigel Parrott, co-founder of Ape Snacks.

It announced its first accelerator cohort in June.

Related Companies

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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