trip can

Trip recorded the fastest ever growth figure in 15 years of the Fast 50

CBD drinks brand Trip has topped a list of the fastest-growing businesses in UK food and drink with a record jump in sales.

It’s surging growth pushed it to the number-one spot in the annual Fast 50 ranking conducted by mid-market financial services firm Alantra.

Trip posted two-year compound annual sales growth (CAGR) of 389% – the highest figure recorded in the report’s 15-year history. It topped the table by a distance, with second place Rheal Superfoods boasting two-year growth of 235%. Last year’s winner, meat alternatives brand This, appeared at 14th in the list as two-year CAGR slowed from 246% to 58%.

Launched by newlyweds Olivia Ferdi and Dan Khoury in 2019, Trip has been responsible for taking CBD mainstream. Growth was originally sparked during the pandemic as consumers bought the brand’s drinks online to deal with the stress of lockdowns.

The company went on to raise £10m in a series A round in 2022 to bring the brand to a wider audience, It is now stocked in more than 25,000 supermarkets and shops around the UK – as well as in stores overseas.

 

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“Our brand has just exploded,” Ferdi said. “We have proudly introduced tens of millions of men and women to functional drinking, with Trip showing that uniquely delicious and authentically functional products can shift consumer behaviour.

“With our community driving our growth nationwide, leading innovation as a category creator in this space has shown the scale of the growing demand for products that support daily mental wellbeing.”

Charles Lanceley, Alantra’s head of UK food & beverage, added: “The growth has been absolutely unbelievable and not just from a low base. It’s starting to get some serious scale.

“It’s exceptionally well branded and looks and feels very much like a mass market drink.”

Trip has not yet filed full accounts at Companies House, but revenues are understood to be in excess of £20m.

The business – which won Soft Drinks Brand of the Year at Grocer Gold Awards last year – was also the fastest-growing soft drink (with sales of over £500k) by value in January 2024 [Circana] as it widened distribution into Marks & Spencer, Morrison’s, the front-of-store chillers in Waitrose and Superdrug, as well as foodservice.

As reported elsewhere in The Grocer this week Trip has extended its range outside of the CBD category with a new functional ‘Mindful Blend’ drink containing mushrooms and adaptogens.

Rheal – the number two business in the Fast 50 – makes a range of superfood blends and energy bars. Founded by Sean Ali and Charlotte Bailey in 2017, the brand received significant exposure thanks to an appearance on BBC’s Dragons’ Den in 2022. Rheal secured offers from all five dragons before accepting a deal with Peter Jones and Tej Lalvani. However, after the recording, the founders instead opted to raise investment from the crowd, bringing in £1m to boost marketing.

Revenues reached £20m last year and on target to break through the £30m mark in 2024. About 95% of sales are still online, but Rheal is beginning to target retail distribution, with Holland & Barrett an early supporter and a new deal signed with Tesco.

The top five of the Fast 50 is also made up of Vegetarian Express at number three with two-year sales growth of 155%, premium mineral water brand Tŷ Nant at four with 118% growth and healthier snacking brand Misfits at five with growth of 109%.

A full feature analysis of the Fast 50 report will be online tomorrow and in this weekend’s edition of The Grocer

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