Plant-based group Nuture Brands is closing in on a £2.5m crowdfunding target to fuel international expansion across North America and Asian markets.
Nurture’s six brands – Rebel Kitchen, Myracle Kitchen, The Primal Pantry, Ape, Emily and Jax Coco – are stocked by almost all the major retailers in the UK and sold in 40 countries worldwide.
MD Adam Draper told The Grocer the money would go towards increased marketing of Myracle Kitchen in North America, where it recently won a listing with retail chain Meijer, as well as investment in the innovation pipeline and providing working capital to fund growth.
At the time of writing, the business had raised more than £2.3m from almost 200 investors, with the campaign valuing the group at £40m.
Founded in March 2019 by Rebel Kitchen co-founder Ben Arbib after the merger between snacking brands Ape and Emily, Nurture has gone on to build a plant-based platform.
Arbib merged his alternative milk brand Rebel Kitchen into the group later in 2019, acquiring Primal Pantry in 2020 and, most recently, premium coconut water brand Jax Coco at the end of 2021.
Draper said Nuture was on track to generate revenues of £10m in 2022 across its family of brands.
“The US and Canadian markets have really responded well to the launch of Myracle Kitchen,” he added.
“With the acquisition of Jax Coco, we have inherited a fantastic brand, team and customer base across Hong Kong, Taiwan and China. The prospect for sustainable, premium, plant-based brands in these high-growth markets presents a superb opportunity to expand our business.”
Jax founders Max and Jane Gottschalk have invested in the Seedrs round, alongside S-Ventures CEO Scott Livingston and Arbib, who acts as Nurture’s chairman.
The group is also in talks with several private investors and family offices.
“Our portfolio of brands provides a unique proposition to customers and distributors who are seeking a sustainable, plant-based snacking and beverage solution,” Arbib said.
“With the capital we will raise, our footprint in all major growth markets and the ability of our team, 2022 will be a standout year for Nurture Brands.”