Friday, April 12, 2024

SHICKEN receives further £4m cash injection from Veg Capital

Asian plant-based meals challenger, SHICKEN has received a further £4m cash injection from Veg Capital to scale up manufacturing capacity and realise the global potential of its restaurant-quality range.

The funding brings Veg Capital’s total investment in SHICKEN to £6m, which will be used for further CAPEX investment in the brand’s state-of-the-art manufacturing facility. Increased scale and capability, together with the site’s recent BRC accreditation, will make SHICKEN’s Kent-based site become one of the UK’s few dedicated plant-based, nut-free manufacturers. SHICKEN will have capacity and capability to produce a breadth of branded and private label products across retail and foodservice.

Investment will also take SHICKEN’s UK distribution to the next level and fuel overseas expansion. SHICKEN is already projected to achieve five times its current growth, following a launch in premium US retailer, Sprouts Farmers Market, and incremental listings across Costco UK, Iceland, Sweden, and France with the brand’s latest Teriyaki Kebab NPD.

Co-Founder, Parm Bains, said: “It has been a phenomenal journey for SHICKEN so far and we’re incredibly excited to see business scale on an international level, both as a brand and as one of the UK’s few dedicated BRC accredited specialist primary plant-based manufacturers.

“Veg Capital has been the perfect partner, aligning with our commitment to a more ethical and sustainable food system and backing our potential to become a global brand and major plant-based producer within the next five years.

“This investment allows us to realise the ambitions for SHICKEN and to offer our proteins and develop recipes on a private label basis, where I can also leverage my 20 years’ experience within food manufacturing across the major retail and foodservice channels.”

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