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JimJams

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JimJams supplies a full range of No Added Sugar Chocolate Spreads & Snacks to Major Retailers.

114%
 - 
Funded 26 Jul 2024
£300,012 target
£344,489 from 219 investors
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Business overview

Location Halstead, United Kingdom
Social media
Website www.jimjams-spreads.co.uk
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 08693873
Incorporation date 17 Sep 2013
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Investment summary

Type Equity
Valuation (pre-money) £3.7M
Equity offered 8.51%
Tax relief

EIS

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Business highlights

  • Recently secured contract with Compass Group
  • Extensive listings across major supermarkets
  • Advanced negotiations with McDonald's
  • Yearly turnover of £1m+ (2021-24)*
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Key features

  • Secondary Market
  • Nominee investment min. £31.94 +
  • Direct investment min. £20,000.00 +

Pitch

About the Campaign

JimJams was established in 2015 with the goal of building a brand that gives parents and their families healthier, tastier alternatives in categories dominated by high sugar brands. As parents we were shocked at the amount of sugar in all chocolate spreads (57 sugar cubes in a standard jar!). So we created our Award Winning Brand, JimJams.

We have built a successful No Added Sugar Chocolate Spread business with extensive distribution across Tesco, Sainsbury's, Morrisons, Asda, Waitrose, Co-op, Ocado and Holland & Barrett.

Market Opportunity

We have an very exciting strategic launch in final negotiation with McDonald’s early next year using our brand new product, HFSS Compliant, Totally Nut Free, No Added Sugar Chocolate Spread to accompany their pancakes, porridge & muffins.

This strategic partnership could supercharge our brand awareness to over 3.8m consumers on a daily basis.

This is in addition to our recently secured contract with Compass Group supplying the Education Sector with our catering formats of nut free chocolate spread.

Traction & Key Accomplishment

🍫 We calculate JimJams Great Taste Award Winning Chocolate Spreads have up to 83% less sugar than other chocolate spreads in major retailers.

💵 Chocolate Spread category worth +£80m per year (Nielsen, May 2023)

📈 JimJams is growing +24% by value in the market, outperforming total Chocolate spread category which is +10.5% in volume growth (based on Nielsen data June 2023)

💸 Over the last 4 years, we've consistently hit £1m+ in yearly turnover (2021-2024)*.

👪 All products are in year-on-year growth helping retailers deliver positive health choices for parents and families (based on Nielsen data for year end May 2023)

We believe that JimJams now has a standout position in the category.

We believe we have created the first Totally Nut Free, No Added Sugar Chocolate Spread designed for Education and Healthcare Sectors.

Historically, chocolate spread has not been permitted in these sectors due to their high sugar content and nut allergens.

We have now secured a contract with Compass Group to supply the Education Sector, due to our specially created product.

* based on unaudited financial accounts.

Team

Founders Kellie and Kevin have been growing JimJams over the past 8 years.

Since then we have been joined by a strong advisory board and shareholders including Misson Ventures, with a wealth of experience in the food & drink industry.

(John Stapleton, Paddy Willis & Nigel Parrott)

Neil Butler (shareholder) who was part of the team at Meridian Peanut Butter will be joining us as a Non-Executive Director.

Business Model

Having built a successful business within retail we are now targeting the foodservice and out of home sectors with the aim of substantially increasing revenue.

With our brand new, totally nut free, no added sugar chocolate spread, we are in advanced stage conversations with McDonald's to potentially supply them from early next year.

And with our recently signed contract with Compass Group, we're opening up our routes to market.

Use of Funds

Our top priority is to grow & strengthen the team with the goal of driving growth in foodservice & new product launches.

Strategic Trade Spend with the goal of increasing our retail store distribution.

Key Information

Outstanding Debt

The Company has the following outstanding loan facilities:

1. £26,207.30 Bounce Back loan from Santander with an interest rate of 2.5% per annum. This is being repaid in monthly instalments of £899.37, with final repayment due 18/12/2026.

2. £63.995.85 rolling stock finance facility with Iwoca at an interest rate of 2.44% per annum. Currently being repaid in monthly instalments of £7,000 over a 12 month period.

The funds raised from this investment round will not be used to repay these loans.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for JimJams has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 20 June 2024 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £3,700,249

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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