Ice cream maker Northern Bloc gains seven-figure investment
The company, which produces vegan and dairy products, secured the funding from Mobeus Equity Partners.
Northern Bloc, co-founded by Josh Lee and Dirk Mischendahl in 2014, will now look to build on the growing popularity of vegan ice cream.
“Plant-based is no longer a dietary requirement – it’s fast becoming a way of life and Northern Bloc is proud to be at the forefront of bold, innovative, products which suit this revolution,” said Mischendahl.
“Entering Veganuary, our aim is to continue to grow our business, building on our strong base in the retail market while maintaining our premium offering for the out of home sector,” he added.
The company will also invest the funding in increasing its production capacity, it said.
Breakthrough brand
Jane Reoch, investment director from Mobeus Equity Partners, said: “Northern Bloc is a true breakthrough brand, well positioned for growth as the plant-based movement garners global attention.
“The products use all-natural flavours with no compromise on quality or taste. Dirk, Josh and the team have been a pleasure to work with throughout the transaction.”
Lee added: “Partnering with a responsible investor was fundamental to our growth strategy and we’re delighted to be working with Mobeus, a business which shares our vision and values.”
Legal advice to Northern Bloc was provided by advisers Sarah Webster and Dan McCormack of the corporate team at law firm Lupton Fawcett.
McCormack said: “To see the Northern Bloc business develop from a single vintage ice cream van to a trailblazer in the sector in five years is testimony to the vision, determination and passion of Dirk, Josh and the rest of the team.”
Pandemic support
Northern Bloc has listings in major retailers such as Ocado, Co-op, Waitrose and Morrisons. Individual tubs are also sold in theatres, arts venues and tourist attractions.
In 2020, Northern Bloc added to its vegan range with a limited-edition chocolate and honeycomb ice cream called The Show Must Go On!, available exclusively in Waitrose. Proceeds from the product are donated to the Theatre Support Fund+, an organisation supporting arts charities in response to the COVID-19 pandemic.
Last year also saw the company introduce fully sustainable packaging to its products.
