Freed Foods has secured an initial seven-figure private equity investment to fuel growth and help it become the “leading gluten-free snack company”.
The London-based brand, trading as Mister Free’d, issued £1.5m worth of new shares last week, representing about 20% of the company’s total equity and valuing the brand at about £7.5m.
The investment was led by Panoramic Growth Equity and forms part of what co-founder Tomas Mesa described as an “ongoing” fundraising process. On the same day of the initial deal, Freed Foods appointed Panoramic senior investment manager David Atkinson to its board.
Freed Foods’ products are currently stocked in Whole Foods Market, Planet Organic and Holland & Barrett, among others. The brand, which originally produced a range of gluten-free crackers, has since then expanded its offering with the introduction of vegan, gluten-free tortilla chips.
Freed Foods was launched in 2014 by Mesa, Daniel Zachmann and David Ventura. In 2017, the trio sold a minority stake for £750k to a consortium of angel investors.
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