Vegan snack company gets financial backing

By Michelle Perrett

- Last updated on GMT

The vegan snack company has 'huge growth potential'
The vegan snack company has 'huge growth potential'

Related tags: vegan

Two young entrepreneurs have struck a “significant” investment deal with Spanish food group Dacsa, along with a number of angel investors.

Co-founders Gregory Goh and sister Gracia, originally from Sarawak, Malaysia, set up the Cheeky P’s brand with the help of Newcastle University Start Up back in 2018. 

Its Cheeky P’s range of healthier snacks are vegan, gluten-free and high in protein using roasted chickpeas.

It has secured deals with multiple national distributors, including north east-based Epicurium, to supply to health stores, convenience stores, farm shops and pubs around the UK, as well as being stocked by some major retailers, including Ocado and CenterParcs.

As the company approaches its two-year anniversary, it said the investment would enable it to extend its product portfolio, grow the team and expand to more international markets.

Dacsa is the leading dry corn milling company in Europe and is a rice producer in Spain and Portugal, with nine production plants in six different locations across Europe.

Cheeky P’s co-founder Gregory Goh said: “This investment will not only allow us to create new products, but with Dacsa on board, we will have support beyond the financial investment to help accelerate growth to the next level.

“We can really focus on building our brand and expanding our product range to support the increasing appetite for healthier plant-based snacks. It is a rapidly growing market, to which our innovative products are ideally suited, and I am very excited about what the future holds for Cheeky P’s.”

Corporate lawyer Amy Wanless from Muckle LLP, who acted for Cheeky P’s, said: “Gregory and Gracia have built a brilliant business with huge growth potential and we were delighted to help. We were able to spend time getting to know the business and its goals to support them with some key strategic decisions in the build-up to the deal.

“Given just how tasty these healthy snacks are, I am sure the investments, together with industry leading support from Dacsa, will be a tremendous catalyst for growth and we’re excited to see the Cheeky P’s brand in even more shops and outlets in the near future.”

 

Related topics: Start-ups

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