Good Guys Bakehouse Raises £550k to Fuel Expansion
Good Guys Bakehouse, the innovative UK-based biscuit company founded by former United Biscuits general manager Steve Monk, has successfully raised £550,000 to accelerate the growth of its retail presence.
This significant funding round attracted investments from three prominent FMCG angel investors: Nick Bunker, non-executive chair of Spar Retail UK and former MD of Pladis UK and KP Snacks; David Bell, chair of Hackney Gelato and ex-VP of sales at Mars UK; and Tom Carroll, former COO of Gaze.
The newly secured funds will be strategically deployed to enhance marketing efforts, support new product trials, and expand the Good Guys Bakehouse team.
The investment comes at a crucial time, as the company continues to build on its successful retail debut in 2022, where its cheddar and peppered biscuits gained a spot on Sainsbury’s shelves just before Christmas.
What’s more, this debut marked the beginning of the brand’s mission to inject much-needed innovation into the savoury biscuit aisle, traditionally dominated by calorie-heavy options.
Founder Steve Monk reflected on the journey, noting the brand’s achievement in disrupting an ageing savoury biscuits category. Good Guys Bakehouse has also secured shelf space in Ocado, validating consumer demand for their healthier and tastier snack biscuits.
Each biscuit is baked with more cheese than the leading cheese biscuit brands but contains only 5 calories per piece, appealing to health-conscious consumers seeking flavorful alternatives.
With the fresh injection of capital, Good Guys Bakehouse is poised to scale its grocery presence across the United Kingdom, drive distribution, and secure new retail listings. The company is also set to ramp up its marketing activities, bolster its team, and expand its product range as it heads into the latter half of 2024.
Nick Bunker, who has joined the team as a non-executive director, expressed confidence in the brand’s potential. He remarked that throughout their career, they have seen many brands with the potential to go the distance, Good Guys is one of them.
They went on to further express that this funding round is a significant milestone in their mission to revolutionise the savoury biscuits category. With Steve at the helm, they are on track to make Good Guys Bakehouse a household name in the UK and beyond.
David Bell and Tom Carroll also echoed this sentiment, emphasising the brand’s strong market positioning and innovative approach. Bell highlighted the unique blend of taste and health benefits that Good Guys Bakehouse offers, while Carroll pointed out the strategic advantage of having a seasoned team with deep industry experience steering the company forward.
Monk concluded by highlighting the unique opportunity at hand, stating that as a brand, they have the chance to reinvigorate the savoury biscuits category with their exciting product proposition. With the support of top-tier industry investors, they are perfectly positioned to achieve this.
The company plans to use a portion of the funds to develop new biscuit varieties, ensuring they cater to diverse consumer preferences. Additionally, increased marketing efforts will focus on both online and offline channels to boost brand awareness and drive consumer engagement.
What’s more, this comprehensive approach aims to solidify Good Guys Bakehouse’s position in the market and pave the way for long-term success.
In summary, Good Guys Bakehouse is set for substantial growth following its successful fundraising.
With a robust strategy and the backing of influential investors, the company is well-equipped to expand its footprint in the UK retail market, introduce new products, and continue innovating within the savoury biscuit sector.
Finally, this marks a pivotal moment in their journey, as they strive to make healthier, tastier snack options accessible to a broader audience.
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