OPPORTUNITY TO INVEST IN PIONEERING ETHICAL FOOD RETAILER 06/09/2017, In the press
CONNECTING PEOPLE TO LOCAL PRODUCERS
-Bristol-based food company fresh-range extends opportunity to invest to power growth-
Fresh-range, the Bristol-based online ethical food retailer, is launching a further equity investment opportunity, in its bid to gain a £400 million share of an £87 billion food market.
Following a successful crowdfunding campaign over the summer, the company raised its minimum target of £300,000 in just 24 hours in exchange for a 7.99% equity stake. Fresh-range is now providing a further investment opportunity up to a higher total of £550,000 for nearly 15% in equity, so that they can go even further and faster with their innovation and broaden their customer expansion. Available on seedrs.com, the offer will close on 20th September 2017.
Founded in 2014 by Bristol entrepreneur, Rich Osborn, the company is scaling fast. This year, fresh-range plans to more than triple 2016 sales, with £1 million annualised revenue forecast by the end of 2017.
Fresh-range is shortening the journey of food between producer and consumer, providing transparent provenance on food and making sure that everyone gets a fair deal. The online retailer offers freshly produced, locally sourced, award winning produce in sustainable packaging, delivered direct from producers to the door, ensuring fewer food miles, and fairer prices for customers and producers. The company’s purpose is to develop food security for generations to come.
The new investment will help fund ambitious customer expansion plans to deliver fresh local seasonal food to more consumers, restaurants, schools, catering companies and councils, in Bristol, Bath and surrounding areas.
As of August 2017, fresh-range has already achieved:
- 2500+customers registered, currently delivering to every Bristol and Bath postcode.
- 1.4 million meals cooked by school kitchens across the South West using fresh produce delivered by fresh-range during the last academic year.
- Two major universities in the South West are sourcing local produce through fresh-range to serve around 50,000 staff and students with fresh produce from local farmers, makers and bakers.
- Three-year contract to supply Bath and North East Somerset Council won providing food for 40+ schools purchasing £2.1 million of produce.
- Appointed to West of England Public Sector Food Procurement Group.
- Additional £6 million+ annual pipeline across wider West of England region in discussion.
Rich Osborn, Founder and CEO of fresh-range said:
"We're on a mission. We believe local, fresh, seasonal food should be available to all, at an accessible price. That’s why we've created a new kind of food company - with short, light and fast supply chains to deliver the best local producers have to offer direct to the consumer."
"There's great potential in the market and we are inviting people who share our vision for fresher, locally sourced food, to join us on our mission to change the food industry for good, and become part of our success story."
With retail and catering companies across Bristol and Bath regularly using the fresh-range online platform to buy directly from local farmers, fisherman, makers and bakers, there has never been a better time to invest.
Mark Blandford, of Valhalla Investments said: "The reason I have invested in fresh-range is that I love the market opportunity for home delivered fresh food with full traceability. Fresh-range has a great team to deliver on a savvy but realistic business plan."
Mark is considered one of the founders of the developed online gaming industry. His company, Sportingbet, reached a market capitalisation in excess of £2 billion in 1990s. In 2007 Mark founded the Valhalla Investments and is a widely followed successful investor.
Tim Price, Co-Manager of VT Price Value Portfolio and Discretionary Asset Manager
"The best investment strategy is always to identify high quality businesses with an exceptional management team. I am delighted to have invested in fresh-range, a business which strikes me as having great potential."
Tim Price is co-manager of the VT Price Value Portfolio and a discretionary asset manager. He has more than 25 years' experience in the capital markets, including as CIO for three firms. Shortlisted for 5 years and winner in UK Private Asset Managers' Awards Programme 2005. Tim writes regularly for MoneyWeek and The Spectator.
Simon Heppner, of The Sustainable Restaurant Association said: “I’ve invested in fresh-range because they are showing the potential to create positive waves in terms of sustainable food procurement across the UK. The traction they have already with local authorities, universities, and schools so early in their journey is impressive.”
Simon Heppner is Founder and Director of the Sustainable Restaurant Association (SRA).
Supporting local British farmers and producers post Brexit:
“There’s never been a more important time than now – post the Brexit referendum result to support your local farmers and source your food from producers near you. By shopping on fresh-range.com, you are supporting producers that we may count on for food security in the future”, says CEO, Rich.
Visit https://www.seedrs.com/fresh-range for more information on how to invest.
Campaign closes on 20 September 2017.
NB Investing may put your capital at risk and the value of an investment can fall as well as rise, so individuals invest at their own risk.