Chocolate drinks retailer Knoops has secured approval for a £5m fundraising from fmcg industry heavyweights, including Itsu and Pret founder Julian Metcalfe.
Metcalfe joins the board of the company as a non-executive director alongside Alice Avis, former CEO and chairwoman of the Sanctuary Spa Group, who also invested as part of the round.
Lush co-founder Andrew Gerrie will lead the £5m fundraising, which is ongoing after the business secured EIS approval.
The new board gives Knoops further expertise from which to execute its international ambitions in the coming decade and drive growth in its own unique category.
Knoops was founded by Jens Knoop in East Sussex in 2013, and today employs 250 staff.
It operates across multiple channels and has a portfolio of 20 stores across the UK, including recently opened locations in Bristol, Edinburgh, Nottingham and Leeds. It plans to open further shops in York, Exeter and Belfast in the near future.
“The reality of Knoops being a leading global brand has taken one step closer with Julian and Alice joining the board and investing in the business alongside Andrew,” said Knoops CEO William Gordon-Harris.
“Their belief in the scale and scope of our chocolate drinks offering and the ability of Knoops to lead this unique category is a fantastic endorsement. We are building upon our world-class team to realise our ambitions.”
Metcalfe added: “Knoops, like Itsu, is a pioneering confident brand with a sense of purpose and a passion for quality. They don’t come around that often and I applaud their leadership and vision. I am hugely excited to be part of this story.”
Avis, who is also a former director of marketing and e-commerce at Marks & Spencer and global brand director at Diageo’s Johnnie Walker, said: “I have long seen the broad appeal and potential of this brand and am delighted to be taking this one step further by joining as a NED. I truly believe Knoops has found a real sweet spot in the F&B market and, with that, has an exciting international future ahead of it.”
Gerrie, who was chairman of Hotel Chocolat from 2015 until its recent sale to Mars, said: “Knoops is a fantastic brand that is creating its own category with enormous global potential. I have huge admiration for the work that the team has done to get it to where it is today. I look forward to supporting William and the team in delivering Knoops’ ambitious global growth plan as part of a long-term relationship with the business.”
Knoops also retails chocolate flakes through its DTC website and in Harrods, Selfridges and Whole Foods.
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