The British Snack Co.

Idea

Introduction

At The British Snack Co. we do things a little differently. Our award-winning flavours and unique ranges of craft popcorn, crisps and pork snacks have sold over 4 million bags in the past 12 months. In August 2022, we became profitable*.

The UK snacks market is massive with people spending £3.2bn a year on tasty treats. Yet, we are also in the midst of a ‘craft’ revolution. People want something natural, healthy(ish) and a little different.

We believe The British Snacks Co. is in the ideal position to capitalise on this market trend with three ‘craft’ snack brands. We are already stocked by some of the UK’s largest pubs, bars and supermarkets, and are currently growing sales at over 90% YOY*. This funding round will allow us to continue growing our sales channels, gain new customers and execute our “Project Reset” strategy. This year, we have rolled out our new fully recyclable packaging and continue to explore additional ways our business can become more environmentally friendly.

*Based on unaudited management accounts. 90% YoY growth calculated from Jan-Aug '21 and '22 revenue.

Substantial accomplishments to date

Thanks to the hard work we put in during the pandemic, we are enjoying a period of very strong growth and in August 2022 we became profitable for the first time.

In the past 12 months, we have sold more than 4 million bags of snacks. Our customer list includes:

✅ Sainsburys
✅ Waitrose
✅ Ocado
✅ British Airways
✅ Fuller's Pubs
✅ Coffee Republic

All of our snacks are free from allergens and all of our crisps and popcorn are vegan, capitalising on these lifestyle trends.

Awfully Posh (our craft pork crackling) was the first pork snack brand ever to win a Great Taste Award!

In January 2022, we appointed Richard Robinson - previously Managing Director of Intersnack UK and Calbee - as our new Managing Director.

Monetisation strategy

The snack market in the UK alone is worth in excess of £3bn. We plan to continue to grow our sales rapidly.

Our target customer split is as follows:

• Retail 40%
• OOH 40%
• D2C 10%
• Export 10%

As we are now profitable, we intend to fund future growth using cash generated from sales.

Use of proceeds

This round will provide the top-up funds required to accelerate the growth of these sales channels and acquire new customers so we are perfectly positioned to capture a large chunk of the market over the next year or two.

The pandemic hit our sales hard, but instead of pulling back from new business acquisition during lockdown - we doubled down; We continued to reach out to new and existing clients with renewed vigour with fantastic results. As a result in 2022, our sales have reached record levels and are 90% up YOY.

We’ll also need to increase our marketing and promotional spend to ensure that we generate the pull-through required to make the most of the new customers we have won during the lockdown.