With two days to go in its Crowdcube campaign The Hebridean Food Company has overshot its crowdfunding target. It raised a further 260% of the £60,000 aimed at, reaching a total of £156,090.
The company was able to attract 281 investors to expand it’s business.
The Hebridean Food Company produces soups and sauces for the sale in supermarkets. It advertises the soups to be made solely from “slowly grown food, bursting with character and community at its very heart.”
In its funding bid the business stated: “We have created our products so that they are never over processed, using plenty of meat and packed with hearty vegetables. Working with a world class chef we have created a fantastic range of meat and seafood soups.”
The Hebridean Food Company is trying to target a gap in supermarket supply of soups without artificial preservatives, flavouring and colouring by offering unprocessed, but flavoursome and affordable alternatives.
Growth in fresh soup market is promising
It taps into the world wide £125 million fresh soup market, which is currently growing in value by 8.6% a year.
In only seven months the company has already achieved great success. The leading global discount market chain, Aldi, currently features one of their soups on their range. Aldi will add two more products in September. Wholefoods, the American Food Market which exclusively offers food free from artificial preservatives, colours, flavours, sweeteners and hydrogenated fats, has also committed to working with the soup producer. Lastly, the firm has recently secured a supply contract with Southbank Fresh Fish. The distributor caters to supermarkets and other retail stores such as UK department store Selfridges & Co.
The Hebridean Food Company is ready to invest in expansion
Having not only reached, but far overshot its crowdfunding target, with another two days to go in their campaign over the UK platform CrowdCube, the company can now focus on investing in further expansion and innovation.
The company stated: “We have the capacity in our premises to produce 900,000 tubs of 400g soups (£1.62m turnover) and with this investment we will expand our production capacity to produce £3m worth of products annually.”
Katharina Fleiner 18/08/2016