A refreshing sparkling soft drink that’s full of flavour - with added zing!
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | nixandkix.com/ |
| Sectors | Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 09270784 |
| Incorporation date | 20 Oct 2014 |
Business highlights
- Over 5 million products sold
- 7.5k distribution points including Tesco, Waitrose, Nando's, BP
- High repurchase rate vs the category in key retailer
- Great Taste award winning / 90% 5-star reviews on Amazon
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Idea
Introduction
Nix & Kix was created when we (Kerstin and Julia) could not find any exciting non-alcoholic options. There were
... either drinks full of sugar, artificial sweeteners
... or E-numbers or healthy alternatives that were just bland.
After a lot of experimenting in our kitchen we came up with a range of drinks that were not only low in calories, all-natural and without any added sugar - they also tasted amazing. Adding cayenne allowed us to remove sugar without compromising on taste and gave the exciting ‘zing’ that makes our drinks so special.
Fast forward a number of years and we are now stocked in over 3,000 shops, restaurants, bars and offices with 7,500+ distribution points (inc Tesco, Waitrose, Sainsbury's, Nando's, BP, Morrisons, Holland & Barrett) and have just secured a listing with Matthew Clark, the biggest distributor into restaurants, pubs and bars in the UK.
We've also won numerous awards and have been called 'Addictively tasty' by the press (Time Out 2019).
Substantial accomplishments to date
2017
• Launched in Selfridges, Waitrose, Tesco, and on Ocado
2018
• Won our first Great Taste award
• Tesco increased the number of stores to 450
• Launched into 318 BP service stations
• Well-known market research firm calls our product proposition ‘outstanding’
• Berlin’s top restaurant owners chose our Cucumber Mint as the best drink during a tasting in a limousine through the German capital. The prize was a trade stand at a German hospitality show where we first got introduced to our new customer Markant (18,000 outlets in Germany)
2019
• Time Out Magazine called us ‘Addictively tasty’
• Won second Great Taste award
• Secured listing with Brakes - second biggest UK wholesaler
• Launched 250ml cans into Bidfood - one of the largest food wholesalers in the UK
• Launched in 122 David Lloyd Gyms
• Brought the party to Taste of London with our own DJ Nix & Kix (that later got us kicked out of the fair, we obviously had too much fun..)
2020
• Metro said we’re ‘fast becoming their favourite grown-up softie brand’
• Tesco added Raspberry Rhubarb
• Launched with major restaurant chain Nando’s
• Launched with Matthew Clark (biggest UK distributor to the restaurant, pub and hotel sector)
• Team highlight of the year was a paddleboarding rubbish collection session on the London canal which ended up being ‘in’ the canal for a lot of us by the end of it
2021
• Launching our new Raspberry Rhubarb flavour with Ocado, Waitrose, and BP
• We made it to Hollywood - Vanessa Hudgens is a fan!
• Applying for B-Corp; ensuring that we balance people, planet, and profit in line with one another
Monetisation strategy
Nix & Kix is available at 7,536 distribution points, offline and online and we export to 5 countries.
We have a clear action plan to drive revenue:
- Hack familiarity: We need to increase visibility, particularly in store where we are stocked, to make it an easy decision for the consumer to give our product a try
- Get our target customer to drink Nix & Kix: driving trial with new consumers
- Build a distinctive brand: Our re-brand was the first step to creating a more distinctive brand, now we have to activate it .
Use of proceeds
The foundations are all in place: we have a product that customers love, a reliable supply chain and a team that is experienced, passionate and focussed.
Now we want to accelerate growth. This investment will be used to:
- Expand into the convenience channel - first feedback from trials in Nisa has been promising. We are hiring a Senior National Account Manager to help us unlock further opportunities.
- Growing our e-commerce platform (D2C) - we have successfully increased our D2C sales without much marketing spend; with investment in this channel we can grow this a LOT quicker.
- Sky-rocket our brand awareness and trial - getting hundreds of thousands of potential customers to try our award winning products and building awareness with digital marketing.
- Scaling operations: as we expand further, we also need to invest in our operations infrastructure to effectively scale the business and keep costs competitive.
Investor Perks
Has all of this left you feeling thirsty? Great, come and join us on this delicious journey. Here is what is in it for you...
Please note that any discounts and/or offer listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company's responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
Outstanding debt
The company has an outstanding Bounce Back loan of £50,000, interest-free for 12 months and 2.5% thereafter. This is to be repaid over 60 monthly installments starting in June 2021.
None of the funds raised will be used to repay this loan.
Advance Subscription Agreement Terms
This investment round is being raised by way of a convertible equity investment structure, in this case, an 'Advanced Subscription Agreement'.
The key terms that apply to the Company’s advanced subscription agreement are set out below. See also attached Key Terms document for further details.
Discount – 15%
Valuation Cap - £8m
Default Share Price - £1.33 per share (valuation of £6,466,739)
Conversion is triggered by:
(1) An Equity Fundraise – defined as the Company raising investment capital of at least £1,000,000 from one transaction or a series of transactions
(2) A Change of Control of the company (transfer of more than 50% of the share capital) or IPO
(3) Longstop Date: 6 months from the date of the Advance Subscription Agreement.
(4) Winding up event.
On conversion upon an Equity Fundraise, Change of Control or IPO (a “Trigger Event”), the convertible will convert into ordinary shares at the lower of (i) lowest price paid per share in connection with the Trigger Event, discounted by the discount, or, (ii) a share price based on the Valuation Cap divided by all issued shares in the Company.
On conversion at the Longstop Date or on a winding-up event, the convertible will convert into ordinary shares at the lower of (i) the lowest price of any share issued after the date of the convertible and (ii) the Default Share Price of £1.33 (a valuation of £6,466,739).
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