The owners of Capri-Sun have invested a further £1.5m in low-sugar ice cream brand Oppo as it looks to grow the brand internationally.
HP Wild Holding, the family investment office of Capri-Sun owner and Swiss billionaire Hans-Peter Wild, has taken a further equity stake worth about 16% of the group, according to newly filed documents.
The investment is in addition to the December 2018 transaction that offered Oppo’s crowdfunders an opportunity to cash out for a profit.
Oppo’s most recent statement of capital before the latest equity investment showed HP Wild with a 15.5% stake.
Oppo co-founder and MD Harry Thuillier said the new investment represented the conversion of a £1.5m loan from HP Wild into equity.
He added HP Wild was continuing to purchase shares from Seedrs crowdfunding shareholders and had given Oppo access to an ongoing cash facility for working capital to finance a growth push into Europe.
As part the deepening of the investment, Capri-Sun’s most senior executives, CEO Roland Weening and CFO Remko Wessels, have taken seats on the Oppo board.
“This level of support means they want significant ownership in Oppo to share in the success they want to help facilitate,” Thuillier said. Their support would also help “guide our decision-making, create value fast and finance global growth”.
Weening, who has previously served as global brand director for ice cream at Unilever, 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. Then did our relevant due diligence on the company, and decided Oppo was the one to back.
“It is simply the best taste and quality, has strong, global brand potential and will be going places, even more so now with our backing. We are very excited for what the future holds.”
The brand has posted year-on-year growth of around 100% since 2014.
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