Borough Broth Company has sold a stake in the rapidly growing organic bone broth brand to private equity firm Piper for £7.5m.
The funding would support the next phase of sustainable growth and marked “a significant step” in the company’s mission to take nutrient-rich and naturally made stock into the mainstream, Borough said.
Piper’s investment will fund a relocation for Borough to a new west London factory, more than doubling current capacity, as well as helping to strengthen the business’ senior team and backing continued innovation across new categories such as organic soups, stocks and gravies.
Ros Heathcote founded Borough in 2015 on a shoestring budget, growing the brand from a small London kitchen into a business with retail distribution in Tesco, Sainsbury’s, Waitrose and Ocado.
Annualised revenues at Borough, which has previously raised £780k from angel investors, is now at around £11m and is forecast to exceed £20m in 2026.
“We have built Borough Broth with great care and discipline, and that focus has shaped who we are,” Heathcote said.
“I started Borough to help people feel genuinely nourished by real food made the right way, and partnering with Piper means we can bring that mission to even more people.
“Piper invests in purposeful brands, and their shared values genuinely matter to us. This partnership validates how far we have come, and we are energised to grow while staying true to our principles and delivering a strong, sustainable return for Piper’s investors.”
London-based Piper has backed a long list of consumer brands, including the likes of Mindful Chef, Propercorn and Forthglade. It typically invests between £5m and £25m in businesses, with £58m going towards female-led brands in its last two funds.
Partner Rory Gibbs added: “Borough Broth is perfectly positioned at the intersection of taste, health, sustainability and convenience.
“Ros has built a truly special brand with exceptional products and purpose at its heart. We see huge potential to grow Borough Broth into a household name, one that leads the conversation around healthy, nourishing and sustainable eating.”
B Corp-certified Borough started off by reclaiming bones from the meat industry that would otherwise be wasted or used for petfood, turning them into organic broth.
It makes all its products in-house, employing a team of more than 50 staff.
In the past 12 months, Borough Broth has achieved national listings in Sainsbury’s and Tesco, adding to its well-established presence in Ocado and Waitrose. The brand’s Sainsbury’s range expanded further this autumn to include three new products (organic grass-fed beef bone broth, organic free-range chicken pho and sustainably caught wild fish bone broth).
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