Six-figure sum investment to fund expansion of seaweed brand Shore
The Wick-based food firm’s super-grain chips, which are HFSS compliant, have become the biggest selling non-potato bagged snack in existing regional supermarket listings (Neilson data) and they have recently gained new listings with Morrisons, Holland & Barrett and Booths.
The company said that this latest equity fundraising round will enable the food firm to further expand the distribution of its products across UK retail and bring more innovative products to market under its brand Shore The Scottish Seaweed Co.
New products
It is starting this launch of new products with a duo of ambient plant-based Ramen Broths made with the same seaweed they sustainably hand harvest along the Scottish coastline for their chips. The Miso Ramen and Chilli Ramen will deliver a higher quality ramen experience at home, in a convenient ready to heat format.
Furthermore, New Wave Foods said it will use part of the equity funding to drive forward its sustainable production of Scottish seaweed, including farming at their site near Oban.
Snacking market
Shore joint managing director Keith Paterson said: “We are delighted how well our Shore Chips are performing in the better-for-you snacking market. We see a substantial opportunity to replicate what the brand has achieved in Scotland across the whole UK, with a HFSS compliant snack that actually tastes great and has a proven leading rate of sale.
“We are also excited to be launching a delicious new plant-based Ramen range, inspired by our own hand harvested seaweed. It’s a product range that tested fantastically with our consumers and furthers our mission to create an edible seaweed industry of scale, that is 100% sustainable, good for the coastal environment and beneficial for our local rural communities”.
