Emily Crisps Sells Minority Stake As The Healthy Snack Segment Builds Momentum

LONDON, United Kingdom — UK fruit and vegetable crisp maker Emily Crisps has sold a ‘significant minority stake’ to private-equity firm Inverleith and investor club Hothouse Brands.

The London-based company, which currently sells its products in Waitrose and Whole Foods Market in the UK, has plans to expand its presence throughout Europe and other key markets.

“We knew this was the right time to seek investment and wanted an investor partner who would recognise the uniqueness of what we have created, co-founder Emily Wong told FoodBev.

“The Inverleith LLP & Hothouse Partner team and wider network brings a wealth of strategic and commercial experience to the Emily Crisps business. Combined with their investment, we believe we can build on the early success of Emily Crisps and continue to drive its brand and products as the healthy indulgence snack of choice across the UK and further afield,” she added.

Launched in 2014, by Wong and partner Alex Ascani, Emily Crisps’ fruit and vegetable snacks have found success within the healthy snack segment. Providing health-conscious consumers with an alternative to potato crisps and popcorn, the brand’s range of snacks are now sold in over ten countries.

With the healthy snack segment currently outpacing the entire food and beverage market in sales growth, Inverleith LLP & Hothouse Brands’ decision to invest in the startup, highlights the opportunities that are present within the rapidly expanding category.

According to Inverleith LLP & Hothouse partner Paul Skipworth, the brand’s unique product taps into several key growing trends within the food and health and wellbeing categories.

“We believe that Emily Crisps is perfectly positioned to becoming a leading healthy indulgence snack of choice for those who wish to be able to snack healthily without sacrificing on quality or taste,” he told FoodBev.

Following the investment, Wong is set to become Chief Executive, while Ascani will take on the role of Chief Operating Officer. A newly created Board of Directors will feature a range of industry experts in non-executive board positions.

As demand for healthier snacks lures more companies into the category, “everyone is trying to get a piece of the snacking market,”Jared Koerton, a Senior Food Analyst at Euromonitor told the FT. “It’s bringing in a lot of companies into a new market [for them], or ones trying to expand into new product areas.”

In September, Propercorn, the UK’s fastest growing popcorn brand, secured £7 million in funding from private equity firm Piper and JamJar, while UK snack maker Graze recently launched into more than 3,500 stores in the US, following exponential growth in the UK.

According to Anthony Fletcher, Chief Executive of Graze, the healthy snack segment presents a multi-million-pound opportunity, “There are plenty of healthy foods out there but they are not exciting to eat,” he told The Guardian earlier this year.

Now’s the time for innovative startups to step in and fill that void.