Two high-growth pork product suppliers have launched crowdfunding campaigns to scale up their retail presence.
Premium snacks brand Serious Pig, which produces salami and crackling snacks, has launched a £350k Crowdcube campaign to expand its produce range and boost marketing in the UK and beyond.
The brand, which boasts BrewDog co-founder James Watt as an investor and advisor, is stocked at Tesco, Whole Foods Market, Fortnum & Mason and all UK BrewDog bars.
Serious Pig has recorded year-on-year growth of 36% since 2014, with revenues of £152k in the fourth quarter of 2019.
The Crowdcube campaign, which was almost 50% funded within two days of going live, values the business at £7.4m.
Meanwhile, charcuterie specialist Cannon & Cannon is planning to launch a £380k Crowdcube campaign to the public next week, valuing it at £4.5m.
The brand, which recently moved from London’s Borough Market to a larger premises in Bermondsey, London, plans to invest in bespoke machinery to enable it to scale up production and boost its retail presence.
It currently sells via Daylesford and Harrods and hopes the more efficient production process will enable it to achieve a price point to target the likes of Waitrose or Amazon Fresh.
The brand already boasts over £1m in annual turnover and is forecast to generate sales of £3.2m by 2020
The charcuterie category is worth £500m in the UK, but British-produced products account for 0.1% of it given the lack of scalable production infrastructure in the country.
Founder Sean Cannon commented: “There is an opportunity for British charcuterie here as import prices are going up due to the uncertainty around Brexit and the movement of goods.”
The campaign is currently private and is scheduled to launch to the public early next week.
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