Livia’s Well being Meals, a vegan snacks industry arrange in 2014 by way of Olivia Wollenberg, has been got by way of London-based investor S-Ventures plc.
“The previous few months were the hardest I’ve ever skilled. Lately I’m pronouncing that Livia’s, the corporate I based and that has been my existence for over seven years, is now not in my palms,” Wollenberg stated in an Instagram posting.
S-Ventures, led by way of CEO Scott Livingston, stated in a remark Livia’s posted gross sales of GBP1.6m (US$2.1m as of late) for its newest recorded accounts for the 12 months ended 30 September 2020, and a pre-tax loss off GBP1.4m. And “unaudited control accounts” for the 365 days to 31 January 2022, confirmed gross sales of GBP1.3m.
Livia’s has been got for GBP355,000, comprising GBP130,000 in money and greater than 320,000 stocks in S-Ventures at a worth of 70p every. The “distributors” may even obtain a GBP100,000 money cost and further stocks within the investor if Livia’s achieves revenues of greater than GBP600,000 within the ten months after the purchase.
Interviewed by way of Simply Meals in 2019, Wollenberg famous the London-based industry was once seeing expansion of round 150% year-on-year.
In 2020, Livia’s introduced it had raised greater than GBP1m from buyers by way of a Seedrs crowdfunding spherical, together with Andy Weston-Webb, a former president of confectionery massive Mars, Jaap Korteweg, the founding father of The Vegetarian Butcher now owned by way of Unilever, and Michiel van Deursen, an entrepreneur and investor in plant-based companies.
Livia’s plant-based and free-from snacks, advertised below the manufacturers Million Squares, Nugglets and Dunx, had secured listings in Tesco, Sainsbury’s and Waitrose, and on-line with Ocado.
The Occasions newspaper reported Livia’s went into management this 12 months because of a slowdown in gross sales all over the pandemic, difficult by way of provide chain problems and worth will increase from the start-up’s co-manufacturer.
Livingston stated: “The Livia’s crew have accomplished an incredible process in setting up and development a revered and a hit logo and set of wholesome plant-based snacking merchandise throughout more than one channels.
“As a part of the S-Ventures Staff, Livia’s can make bigger and development and transform a mainstream participant on this rising herbal founded merchandise marketplace. I’m very desirous about the potentialities of this leading edge industry and the passion of its control crew.”
Simply Meals has reached out to S-Ventures CFO Robert Hewitt to substantiate if any of the Livia’s control crew were retained, together with founder Wollenberg.
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