Delicious Italian food everyone can enjoy, whether following a plant-based diet, gluten-free or otherwise
Business overview
Location | Oxford, United Kingdom |
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Social media | |
Website | www.whiterabbitpizza.co.uk |
Sectors | Food & Beverage Non-Digital Mixed B2B/B2C |
Company number | 09398865 |
Incorporation date | 21 Jan 2015 |
Investment summary
Business highlights
- 157% average year on year revenue growth
- £2.4m revenue so far in financial year 20/21*
- 1700+ stocking points incl. Sainsbury's, Waitrose & Ocado
- 33% more shoppers YOY, with 68% increase in repeat shoppers YOY
Idea
Introduction
We're on a mission to create delicious Italian food that everyone can enjoy, whether they are following a plant-based diet, gluten-free, or otherwise!
Our food is made in a custom-built bakery, designed from scratch by our Italian maestro Teo, who creates all our recipes and hand picks every supplier.
We are stocked in the likes of Sainsbury's, Waitrose, Ocado and many independents such as Whole Foods, Planet Organic and Selfridges. We've recently added a frozen extension to our manufacturing line, meaning we can act on our huge plans for foodservice, supplying frozen bases to the countless restaurants and pubs in need of scrumptious gluten-free pizza bases.
An obsession for quality and total control of our product has been key to our success to date; we are able to stay responsive as we scale, quickly moving the goalposts of our category with constant innovation.
The food we make has always been led by our consumer, and we are genuninely ecstatic to offer them a chance to invest.
Substantial accomplishments to date
2015:
- White Rabbit is born: Nick & Teo spot a gap in the market after repeated requests for plant-based/gluten-free alternatives to Teo's pizzas at The White Rabbit Pub
- A year is spent developing the recipe in a kitchen above the pub
2016:
- Landlady of White Rabbit Pub becomes first investor
- Founders move into a 750sqft unit in East Oxfordshire and build their first production line
- Pizza range launches with Planet Organic
2017:
- Free From Food & Great Taste awards won
- The guys find investment from value add angels in the industry; this allows them to expand their site and launch 2 lines with Sainsbury's
2018:
- Launch with Ocado
- Launch with Waitrose in their new Vegan & Vegetarian fixture
2019:
- Investment in the bakery, packaging and a new recipe developed by Teo sees White Rabbit launch our first sourdough, gluten free pizza with a raised crust to retail
- More Great Taste & Free From awards won and shortlisted for the Grocer's New Product of the Year
2020:
- Further distribution gains with Sainsbury's & Waitrose
- White Rabbit enrolls in Sainsbury's' Future Brands scheme
- Teo develops White Rabbit's first plant based pizza on his signature wood fired, wheat crust base, and it wins distribution in Sainsbury's main pizza fixture Jan '21
- Jan '21 launches for White Rabbit's new mini focaccias
Monetisation strategy
White Rabbit currently sell on and offline across retail and out of home. We supply major supermarket chains as well as independent stores, and our frozen pizza bases are sold to various foodservice customers.
Our current range of gluten-free, plant-bases pizzas have over 1700 U.K. grocery stocking points, with average year on year revenue growth of 157%*.
We plan to build on these foundations by:
- Building breadth and depth of distribution of our current range across new and existing retail customers
- Expanding from our core range of pizzas to bring other plant-based, free from Italian foods to market
- Using our newly built frozen capacity to unlock the huge potential in supplying the foodservice industry with our products, initially our frozen gluten-free pizza bases
- Bringing the White Rabbit brand to strategic export markets
Over the next three years, we aim to establish ourselves as the go-to brand for delicious, plant-based or free-from Italian food.
*Based on unaudited management accounts
Use of proceeds
With only a small, talented team and range of delicious pizzas, we've laid the foundations for even more explosive growth in the coming years.
The funds from this round of investment will help us achieve these plans in four crucial ways:
- Supporting the development and launch of Teo's new products
- Growing our commercial and operations teams
- Expanding our frozen storage capacity
We already have three new product launches planned for January 2021 with our major retail partners, but we don't want to stop there! Beyond retail, we hope to acquire more major foodservice customers and establish a presence in at least one targeted export market.
All investors in this round are receiving the same class of share as our current shareholders.
We would love as many of you as possible to follow the White Rabbit and join us for the next stage of our journey
Nick & Teo
Key Information
Outstanding debt
The company has the following outstanding loans:
1. A 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 May 2021.
2. A £50,000 bank loan with an interest rate of 5.65%, repaid over 34 monthly installments from December 2019.
3. Three shareholder loans of a total of £210,000. These have an interest rate of 8%. No repayment date has been agreed upon and there are no agreements in place for these.
4. One shareholder loan of £80,000. This has an interest rate of 6%. No repayment date has been agreed upon and there is no agreement in place for this.
5. Two director loans totalling £29,699. These have an interest rate of 6% per annum but do not have an agreed repayment date or an agreement in place for these.
None of the funds raised will be used to repay these loans.
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