Moo Free expands following funding from Santander UK
Moo Free, the Devon-based company producing vegan chocolate free-from dairy, gluten and soya, is expanding its product range as the sector continues to boom.
The company has rebranded and expanded its line of chocolate products to extend its appeal beyond children to additionally target adults. Santander UK has supported Moo Free with its growth strategy by providing the company with a £900,000 funding package.
Moo Free was established in 2010 by Andrea and Mike Jessop, both of whom have food intolerances, after identifying a gap in the chocolate market for dairy-free alternatives. Since then, they have gone on to supply major supermarkets and health food stores with their products as well as selling online, and the company employs a staff of 55.
Prior to Moo Free’s rebrand, it largely targeted the children’s market and had seasonal sales periods focused on Easter and Christmas. The rebrand and product expansion is designed to appeal to adults and to drive and sustain regular sales throughout the year.
Ginette Higgs, finance director, Moo Free commented: “Moo Free is a small, but fast-growing company and Santander UK has been instrumental in helping us achieve – and even exceed – our ambitious growth plans. The team at Santander UK has provided us with a combination of services that support our unique requirements and address our capital commitments, as well as achieving our business goals.”
Martin Pitcher, relationship director at Santander UK, said: “Santander UK is pleased to support Moo Free with its growth strategy, especially over the course of the pandemic with all of the challenges it has presented to UK businesses. We look forward to working with Moo Free as it continues to grow in the exciting and fast-moving ‘free-from dairy’ sector.”