The Yorkshire-based food firm has secured £2m from Mercia Equity Finance via the Northern Powerhouse Investment Fund II, the first investment since its launch in March this year.
Kirsty’s planned to use to funding to launch new food-to-go ranges and develop new products, as well as create 15 new jobs at the manufacturer’s Harrogate factory. Former Stateside Foods commercial director Ian Kent has been appointed as chair as part of the deal.
Commenting on the investment, founder Kirsty Henshaw said: “Our success is a real testament to our hard-working team. This funding will enable us to take the business to a new level and fulfil its true potential.”
Dragons’ Den success
Launched in 2009, Kirsty’s became a household name in 2010 after Henshaw successfully secured backing from Dragons Peter Jones and Duncan Bannatyne on the BBC TV show Dragons’ Den.
Henshaw bought back their shares three years later after launching her meals into supermarkets across the country in 2012 and in 2020 Kirsty’s opened its 100% allergen-free factory in Harrogate, bringing all its manufacturing operations in house.
Mercia Ventures director Chris Borrett added: “Kirsty is an incredible founder with a deep passion, an unstoppable drive and infectious personality. She has built a strong brand, a great team and a defensible platform for future growth.
“As our population becomes more aware of what they consume, and with busy lives and more dual income households, Kirsty’s is poised to truly lead the healthy convenience and allergen-free sectors. With strong relationships with all the major UK retailers and a roadmap of exciting new products, we are excited about the growth journey ahead.”
SME support
The Northern Powerhouse Investment Funder II covers the entire north of England and provides loans of between £25,000 and £2m – as well as equity investment of up to £5m – to help small- and medium-sized business to start up, scale up of ‘stay ahead’.
Ken Cooper, British Business Bank managing director, concluded: “Like so many of the UK’s entrepreneurs Kirsty has a dedication to making her business a success. For 15 years consumers have sought out her product, and now with an injection of the right kind of finance she will be able to grow that market.
“In the current environment sectors such as manufacturing can find it increasingly difficult to remain competitive and attract funding. This investment shows that the Northern Powerhouse Investment Fund II is open for business and available to support ambitious businesses across the North.”
Meanwhile, Boundless has cemented its position as the UK’s leading bagged, 'gut health' snack, after a successful investment round.
