Boundless 1

Source: Boundless

Activated snacking brand Boundless has netted £1m funding to boost its expansion into Europe and the Middle East.

The funding came from angel investors and high net-worth individuals, and will be spent primarily on overseas marketing, working with distributors across these regions on in-store sampling, virtual trade shows and social media campaigns.

“Our aim is to bring all the natural health benefits of activated nuts and seeds to the nation, and to do this at an accessible price point, whilst injecting bags of flavour and personality into the category,” said the brand’s founder Cathy Moseley.

It comes on the back of substantial success for the brand in the UK: Boundless products are now available across Sainsbury’s full estate of stores after an initial trial in the retailer’s Taste of the Future bays, and it has listings at Ocado and Holland & Barrett.

In the past six months, the snacking brand said its online sales were up 2,000%, with retailer sales in March 2020 up 600% on the same period the prior year.

Check out later this morning for the full story

Morning update

This week’s edition of The Grocer has Ocado CEO Tim Steiner calling into question the viability of the store picking model, continued growth at Food surplus retailer Company Shop, Ella’s Kitchen outperforms tough baby food market and more.

On the markets this morning, the FTSE 100 has eased back 0.2% to 6,240.4pts.

Early risers include Glanbia, up 4.1% to €10.35, Nichols, up 3.9% to 1,205p and Just Eat, up 2.3% to 8,374p.

Fallers so far this morning include WH Smith, down 2.8% to 1,003p, SSP Group, down 2% to 242.8p and Marston’s, down 2% to 46.7p.

Yesterday in the City

The FTSE 100 fell 0.7% back to 6,250.7pts to lose some of Wednesday’s gains.

One more out of home food supplier suffered, with sandwich maker Greencore down 5.7% to 115p, drinks supplier AG Barr down 3.6% to 444p, Greggs down 3.1% to 1,517p, Bakkavor down 4% to 67p and FeverTree down 2.9% to 2,288p.

FTSE 100 names on the slide included Compass Group, down 2.9% to 1,150.5p, British American Tobacco, down 2.6% to 2,796.5p, Just Eat, down 2.4% to 8,186p and Associated British Foods, down 2.2% to 1,943.5p.

The days risers included Devro, up 9.2% to 144.2p, McColl’s Retail Group, up 4.4% to 40.6p, Premier Foods, up another 2.2% to 91.7p, Domino’s Pizza Group, up 1.4% to 309.2p and Naked Wines, up 1.1% to 404.5p.