Natural nut butter company, Pip & Nut, is ramping up its ambitious growth plans following a seven-figure finance package from HSBC UK.
The Spitalfields-based brand, which produces a range of naturally nutritious nut butter products, is now the fastest growing nut butter brand in the UK and is stocked in all major grocers. Leading the new wave of healthier nut butters, its range contains absolutely no palm oil, refined sugars or artificial ingredients. The brand is also a certified B corporation.
With further expansion forecasted for the company, the funding from HSBC UK has been utilised to support their ambitious growth. Pip & Nut in the last year has for the first time gone above the line with a tube campaign in September ‘19 & February ’20 to drive awareness of their nut butter, as well as expanded their portfolio of products into the premium impulse category with a three-strong range of nut butter cups, all of which this working capital injection helped to deliver.
This new impulse range is made in the UK and features Pip & Nut’s award-winning nut butter, wrapped in ethically sourced, single-origin Colombian chocolate. Available in three variants, Milk and Dark Chocolate Peanut Butter Cups and Dark Almond Butter Cups, the new range has secured strong listings with Boots, Ocado and Wholefoods and further grocery listings lined up for the Autumn.
Alex J Brown, Relationship Director, City of London Corporate Banking, HSBC UK said:
“Pip & Nut has grown from a small entrepreneurial venture to a widely-recognised brand sold by leading retailers across the UK. We’re delighted to be able to work alongside the company in its mission to expand by introducing new innovation and more extensive distribution, as well as support their continuing growth during a challenging time for businesses.”
Pippa Murray, CEO and Owner of Pip & Nut, said:
“The financial package provided by HSBC UK will be instrumental in allowing us to maximise the working capital within our business. Our nut butter brand is continuing to grow – and quickly – and we have hugely ambitious plans that would not be possible without HSBCs backing.”
In addition to the new nut butter cups, Pip & Nut has a product portfolio of eight nut butters, available in jars, squeeze packs and tubs. The range includes innovative flavours such as a new Limited Edition Blueberry Muffin flavour, along with best-sellers such as Peanut Butter, Almond Butter and Coconut Almond Butter.