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The Brook

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Making plant-based eating fun and accessible for a flexitarian, environmentally-conscious generation.

132%
 - 
Funded 25 Nov 2019
£200,021 target
£265,654 from 255 investors
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Business overview

Location Wallington, United Kingdom
Social media
Website www.the-brook.co.uk
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11349127
Incorporation date 8 May 2018
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Investment summary

Type Equity
Valuation (pre-money) £3.5M
Equity offered 7.05%
Tax relief

EIS

  • Idea
  • Team
  • Updates
  • Investors 255
  • Discussion
  • Documents

Idea

Introduction

At The Brook we make exciting, delicious and nutritionally rich meals for a generation of busy, health-conscious people who want to keep their carbon footprint down.

We raised on Seedrs last year, where we hit 100% in our first day and overfunded our target by over 140%. Since then we have ...

• Launched an e-commerce platform and partnered with DPD to test a direct to consumer (D2C) model
• Developed 24 dishes, with retail-ready packaging that is 100% recyclable
• Set up our production kitchen
• Secured our 1st retail listings, including a listing with the Co-op and an international listing on Red Mart in Singapore
• Sourced inventory management software that will allow efficient stock control and accounting as we scale
• Started working with one of the largest pub chains in the UK on developing their vegan menu
• Been awarded 3 Great Taste gold stars and been shortlisted for both a Future Food award and a Great British Food award

Intended impact

Having spent the past 5 years honing our recipes, and serving thousands of customers at our restaurants, we're excited to extend our reach by launching a range of ready-to-eat/cook products, that can be enjoyed anywhere, by anyone, at any time.

Our range will provide support throughout the whole week; from grabbing a quick lunch in the office to throwing an impressive dinner party. We want to show the world that enjoying a diet rich in plant-based foods can be simple, convenient and incredibly delicious. We believe a lot of people are ready to make the switch but find the transition difficult and time-consuming.

In the UK, 9/10 of us eat ready meals and in 2017 we spent a whopping £4.7bn doing so, making ours the largest ready meal market in Europe. With a range of thoroughly 'tried and tested' dishes and a reputation for both great food and great service, we're perfectly positioned to provide high-quality plant-based options in this category, as demand continues to grow.

Substantial accomplishments to date

Our other achievements include:

• More than 5 years experience honing recipes and building a customer base.
• Thousands of customers already served.
• 2018 Time Out award winner: Best Restaurant in Hackney (after only 3 months).
• 10k+ social media followers.
• National press coverage, including the BBC.
• Established relationships with food wholesalers.

Monetisation strategy

In November last year, we launched a simple e-commerce platform and allowed a limited number of customers to order from our Test Kitchen from January – March as we developed the range with their feedback. This was a great success and has enabled us to build a more sophisticated e-commerce platform, with the customer at its core.

On the new platform, customers can go online and ‘fill a box’ with the dishes they love and choose the frequency they’d like their meals to be delivered, so they won’t need to worry about re-ordering every week/month.

Alongside this we are also pursuing conversations within both retail and food services. In retail we have secured listings with Co-op, Dobbies and Fenwick, among others, are have also started selling internationally, in Singapore.

In foodservice we have seen early success and are currently working on the vegan menu for one of the UK's largest pub chains.

Use of proceeds

Due to the speed of our progression, we're raising funds to raise brand awareness, make key hires and support further retail launches.

8% cost of the raise
30% team
37% brand and marketing
25% scaling production

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

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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.

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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 The Brook has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 20 September 2019 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 £3,499,618

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

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Learn more about pitch type on Seedrs

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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