The investment from Business Growth Fund (BGF) will support the business in expanding its core offering in the UK and continuing its European expansion. The company, said to be valued at £50M, has already secured listings in Sainsbury, Spar and Co-op.
MuscleFood is also listed in more than 300 Musgrave Group-owned stores in Ireland and has launched internationally in the Netherlands, Germany and France, with plans to grow across Austria, Spain, Poland, Ireland and Italy during 2018. Other countries targeted include Portugal, Denmark, Sweden, Bulgaria and Switzerland.
Surpassed £100M turnover
MuscleFood launched in 2013 and over four years has surpassed £100M turnover, selling 53,000 healthy items each day to customers ranging from fitness fans to money-conscious families, the company claimed.
It sells a mix of high protein foods, lean meats, a healthy range of ready meals and a Protein Pizza, stocked in Sainsbury.
The Protein Pizza sold almost 250,000 units in its first year, making it the fifth biggest UK pizza retail brand in the UK, the company claimed.
‘Big step forward’
“This marks a big step forward in the progression of the company and the brand,” said MuscleFood founder Darren Beale. “It gives us the ability to expand faster and further than we could have done without the cash injection and to invest in concepts we believe could bring us a good return.”
Beale added: “We’re a team who passionately care about one thing: making it easier for our tribe of customers to achieve their fitness and health goals.”