Allplants Secures £1.8m Funding and Appoints First Chairman
Allplants, a leading manufacturer of plant-based ready meals, has successfully raised an additional £1.8 million in finance as it marks a new milestone with the appointment of its first chairman.
The funding round was spearheaded by Re:Food and saw continued investment from existing backers: Molten Ventures, Felix Capital, and Otiva.
In a significant move towards profitability, Allplants has achieved remarkable progress in the first year of its two-year pathway to profit plan. The company has closed the gap to becoming EBITDA positive by over 80% within just 12 months.
This recent infusion of capital has been pivotal in transforming Allplants from a direct-to-consumer operation to a fully omni-channel business, now boasting a presence in both retail and foodservice sectors. The transition aims to broaden their market reach and meet the growing demand for plant-based meals across different consumer segments.
Allplants’ founder and CEO stated that they are thrilled to see their vision come to life as they close in on profitability. They went on to add that this additional funding is a testament to the hard work and dedication of their team and the unwavering support of their investors.
What’s more, they are more committed than ever to making plant-based eating seductively delicious and easy for everyone.
To further support its next growth phase, Allplants has appointed Tim Kelly as its first chairman. With a distinguished 40-year career in the food and drink industry, Kelly has held directorships at major companies including Premier Foods, Burts Snacks, and Veg Express.
His extensive experience is expected to bring valuable insights and strategic direction to Allplants. Expressing his enthusiasm for his new role, Kelly remarked that he is excited to join Allplants at such a pivotal moment.
The progress the company has made is impressive, and he looks forward to working with the team to drive further growth and innovation. Together, they will continue to lead the way in transforming the plant-based food category, inspiring the planet to eat more plants.
Allplants’ meals are handcrafted around the clock by 140 chefs in its own kitchen, which is the largest plant-based kitchen in Europe and operates entirely on renewable energy. The kitchen’s sustainable operations align with the company’s ethos of promoting environmental responsibility alongside healthy eating.
Since its inception in 2017, Allplants has delivered over 3.5 million meals across Great Britain, doubling its revenue every year. Their meal offerings range from hearty classics like lasagna and shepherd’s pie to globally inspired dishes, such as Thai green curry and Mexican burrito bowls, catering to a wide variety of tastes and dietary preferences.
The company’s impressive growth trajectory is not just limited to its financials. Allplants has also been at the forefront of culinary innovation, continuously expanding its menu and enhancing meal quality based on customer feedback and market trends.
Furthermore, their unending commitment to excellence has earned them a loyal customer base and numerous accolades within the food industry.
This latest development underscores Allplants’ commitment to scaling its operations and pioneering the plant-based food movement. With robust financial backing and experienced leadership, the company is poised to make plant-based eating mainstream, ensuring delicious and convenient options are available to all.
As they continue to innovate and expand, Allplants is set to inspire a significant shift in eating habits, making plant-based meals a staple in households across the nation.
News Credits: Allplants secures £1.8m investment and appoints chairman
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