- Bespoke was founded in 2008 and is based in Coalville, England
- Its revenue increased 18 percent on average over the last three years
- LDC will support Bespoke’s organic and acquisitive growth strategy,
LDC has invested in Bespoke Kitchen Foods, a provider of vegetarian and vegan products for the pub and casual dining market.
Founded in 2008 and based in Coalville, England, Bespoke supplies premium products to the UK’s leading branded pub and restaurant chains and food wholesalers supplying the foodservice channels. Its products include sweet and savory baked and formed products. Its revenue increased 18 percent on average over the last three years.
This growth has been supported by the rising popularity of vegetarian and vegan categories and more health-conscious dining, according to a release. The UK’s vegan and vegetarian food market is growing at over 11 percent and is expected to reach around £1 billion ($1.4 billion; €1.2 billion) in size by 2033, according to a report by Imarc Group.
LDC will support Bespoke’s organic and acquisitive growth strategy, which is underpinned by expansion into new segments, including high street casual dining chains, the release said.
The investment was led by LDC’s East Midlands and East of England team, including investment director Simon Peacock, and partner and head of the East Midlands and East of England David Bains, supported by investment executive Josh McHugh.
Following the transaction, Peacock and Bains will join Bespoke’s board as non-executive directors alongside Chris Copestake as executive chairman.
The company is “well positioned to take advantage of rising demand for their products among an increasingly health-conscious customer base, as well as to make strategic acquisitions in a highly fragmented market,” said Peacock in a statement.
In the last decade, LDC has invested £403 million into 21 consumer businesses, with a combined enterprise value of £900 million.