Beau’s Gelato Secures £400,000 Investment For UK’s First Vegan Ice Cream Subscription Service
Beau’s has secured £400,000 investment as it looks to build a vegan gelato brand that will raise the benchmark for the ice-cream industry and create a new facility in the North East.
After an initial round of investment in 2019 that allowed them to scale up their capabilities, Beau’s has subsequently secured additional funding from a group of investors including the TRICAP Group and venture capital firms Dismatrix and Northstar Ventures Limited – with funding from the North East Innovation Fund, supported by the European Regional Development Fund.
Part of the investment will be used to create a fully vegan, state-of-the-art ice cream manufacturing facility in the North-East of England, which the business will move into in early 2021. This will greatly increase Beau’s production capabilities, allowing them to seek a wider range of market opportunities going forward, including white label manufacturing.
The investment has also enabled Beau’s to launch the UK’s first vegan ice cream subscription service – Beau’s Pint Club – which sends subscribers a dessert box of gelateria-quality vegan gelato, along with additional toppings cones and other extra items, direct to customers’ doors each month.
While ice-cream pint clubs are a relatively unknown concept here in the UK, they are a tried-and-tested staple in the USA. With the rapid rise of online shopping and the increase in consumers opting for subscription services as a result of the Covid-19 pandemic, the Beau’s team is confident that this model will appeal to UK customers. With veganism on the rise –over 600,000 people in the UK consider themselves to be vegan and around 125,000 signed up to try a vegan diet during this year’s Veganuary campaign – Beau’s is also tapping into a rapidly expanding market.
“Beau’s plans are far-reaching and innovative and I’m delighted to lead such a talented team to grow the business and bring quality vegan products to the mainstream market,” notes Joseph Eyre, CEO and founder of Beau’s. “We believe that we have a product that can appeal to vegans and non-vegans alike, making it a perfect option for families with mixed dietary preferences to explore. Beau’s Pint Club is just the first step in bringing quality authentic vegan gelato to a much wider audience.”
Already the recipient of multiple Great Taste Awards, Beau’s gelato contains only natural, whole-food ingredients (such as cashews and fresh lemon juice) with no artificial flavours, and contains up to 40% of the core flavour ingredient (as opposed to the industry standard of roughly 10%).
“We believe that the ice cream typically available to UK consumers could be a whole lot better,” asserts Amber Fox-Eyre, CCO and founder of Beau’s. “We’re looking to set a new benchmark, not just in terms of quality but also in terms of sustainable practices.” As part of Beau’s commitment to sustainability, the team has adopted an innovative ‘doorstep-safe’ fully-recyclable packaging solution for their Pint Club deliveries.
“We were clear about the investors we were looking to partner with ahead of this funding round and are delighted that they have bought into our vision and come on board with us,” adds Joseph. “Each investor brings a unique set of insights, specialisms and industry experience that we can rely on – and we’re looking forward to taking some significant steps together in 2021.”
“As well as offering vegans and those with lactose intolerance a nutritionally balanced gelato of uncompromising quality, Beau’s products will appeal to the ‘traditional' ice cream market simply because they taste very good,” comments Moray Martin, TRICAP CEO and Chair of Beau’s. “This broad appeal, alongside the company’s sustainability credentials, was recognised by investors as key success factors aimed at overcoming some of the challenges faced by retailers and across the catering sector. We look forward to supporting Beau’s growth and development as it begins its manufacturing ramp-up and brand building phase.”
About Beau’s
Located in the North-East of England, Beau’s is dedicated to proving that plant-based ice cream tastes even better than dairy-based alternatives, with a diverse line-up of authentic Italian-style vegan gelato made using natural ingredients. All of Beau’s gelato is made in-house – with no artificial additives or prefabricated mixes – and, as such, are free from 12 of the 14 commonly recognised allergens. Using an industry high concentration of core ingredient (up to 40% of the overall ingredient mix), each of Beau’s ice creams is rich, creamy and bursting with flavour.
Beau’s Pint Club was launched in December 2020 as the first ice cream subscription service nationwide in the UK, offering a monthly dessert box with an ever-changing line-up of flavours developed in-house by the Beau’s team. To date, Beau’s has received three Great Taste Awards – for its Raspberry, Pistachio and Coffee flavours – competing in the same category as mainstream dairy ice cream brands.
Contact the Beau’s team at info@beausgelato.com
TRICAP
TRICAP is a Scottish Enterprise-accredited angel syndicate. Since 2004, they have supported early-stage, sunrise businesses to achieve their aspirations through a combination of funding and expertise. They are sector-agnostic, focusing instead on entrepreneurs and teams with the passion, energy and desire to deliver exceptional performance.
For more information, visit www.tricapital.co.uk
Contact: Moray Martin, CEO , moray.martin@tricapital.co.uk
Dismatrix Group
Dismatrix invests in sustainably-driven and environmentally friendly businesses across three main sectors: technology, consumer retail, and health and wellness, as well as seeking opportunities in disrupted old industries. Dismatrix has long focused on identifying and supporting changing food trends across all sectors, with a particular focus on plant-based alternative proteins and food sources. As well as Beau’s, Dismatrix has invested in several recognised brand names including The Vurger Co (UK) and Barvecue (USA).
Northstar Ventures Limited
Northstar Ventures is a venture capital and social investment firm based in the North East. We provide funding for innovative, scalable businesses and high impact social enterprises. We have been supporting entrepreneurs since 2004, seeking out strong teams with great ideas that will drive high growth, scalable businesses, and sustainable charities. As the North East’s leading early stage investor, we have invested over £100m into start-ups, early stage businesses and high impact social enterprises in the region. Our investment managers have a wealth of experience supporting new and growing businesses and bring commercial and operational experience, PhDs and MBAs, international careers and even a micro-business or two.
Information About the North East Fund
The North East Fund is a suite five venture capital and loan funds which was established in April 2018, to invest £120m in around 600 North East businesses in the period to March 2023. The fund managers provide business development advice and investment finance to small and medium sized enterprises based in the seven Local Authority areas of North East England: Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead Sunderland and County Durham. The programme encourages investment in and the commercialisation of new technologies, including low carbon technologies, as well as stimulating new business creation, private investment and entrepreneurialism in the North East, with a view to creating over 2,500 new jobs. The North East Fund has overall responsibility for the programme, which is delivered through five separate funds, each managed by independent, FCA regulated fund managers. Details of these, and up to date information on the progress of the programme, is available on The North East Fund’s website: www.northeastfund.org
The North East Fund has been established with funding from the North East of England European Regional Development Fund programme, the European Investment Bank and from returns on previous North East based, publicly supported investment funds. It is jointly owned by the seven North East local authorities.
Information About the European Regional Development Fund
The North East Fund will receive up to £58,500,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry for Housing, Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
Information About the European Investment Bank
The European Investment Bank (EIB) will lend up to £60,000,000 to the North East Fund programme. The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. For more information, visit: http://www.eib.org/about/index.htm