Moo Free secures £900k funding package

By Gwen Ridler

- Last updated on GMT

Moo Free has secured £900k in funding to help expand and rebrand
Moo Free has secured £900k in funding to help expand and rebrand

Related tags vegan Confectionery

Devon-based plant-based chocolate manufacturer Moo Free has secured a £900,000 funding package from Santander UK, to support its expansion plans.

The support has allowed the manufacturer to rebrand and expand its line of chocolate products to extend its appeal beyond children to additionally target adults. 

Ginette Higgs, finance director at Moo Free, commented: “Moo Free is a small, but fast-growing company and Santander UK has been instrumental in helping us achieve – and even exceed – our ambitious growth plans.

​A combination of services’

“The team at Santander UK has provided us with a combination of services that support our unique requirements and address our capital commitments, as well as achieving our business goals.”

With its brand initially targeted at children, Moo Free;s sales were largely contained to seasonal sales periods focused on Easter and Christmas.

Moo Free hoped that the move to expand its reach to adult audiences would help drive and sustain regular sales throughout the year.

Santander UK relationship manager Martin Pitcher added:​ “Santander UK is pleased to support Moo Free with its growth strategy, especially over the course of the pandemic with all of the challenges it has presented to UK businesses.

Continues to grow

“We look forward to working with Moo Free as it continues to grow in the exciting and fast-moving ‘free-from dairy’ sector.”

Established in 2010, Moo Free produces dairy-, soya- and gluten-free chocolate that it supplies to major supermarkets and health food stores across the country, as well as online. The manufacturer currently employs 55 people.  

Meanwhile, plant-based ingredients firm Brecks has secured a seven-figure funding package from HSBC UK​ to help support its international expansion and meet demand in 2021.

James Hirst, managing director at Brecks Food, said: “Securing this funding from HSBC UK is a real milestone for Brecks and will support the future of the business as we approach our 30th Anniversary as an organisation. ​​

Related topics Confectionery Plant-Based Operations

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