Angel Food, believed to be New Zealand’s #1 plant-based food brand, has launched its latest crowd funding raise on PledgeMe.
Angel Food is looking to raise a minimum of $200,000 (for a share of 4.17% of the company) with a maximum raise of $500,000 (for a share of 9.8% of the company). The minimum investment is $331.00 (for 10 shares at $33.10 per share). The share offer will close on 3 July (or when fully subscribed, if earlier).
The capital raised will be used for investment in marketing, innovation (including the continued improvement of existing products and new product development), and talent resource (including the procurement of an experienced GM), while also helping the brand prepare for its launch into Australia in 2024.
Angel Food is Aotearoa’s largest and most experienced plant-based cheese company, going strong for 17 years. Founder and CEO of Angel Food, Alice Shopland (an entrepreneurial vegan activist), and her team have been championing the benefit of embracing plant-based foods long before plant-based and vegan diets were mainstream.
The companys says the brand and products resonate with ‘flexitarians’, a newer and much larger market, who are discovering that Angel Food’s products make plant-based eating easy.
Angel Food’s core product focus is dairy-free cheese alternatives, with a production of more than 130 tonnes of cheese per year. Angel Food decided to focus its product range on dairy-free cheese given that it’s a key ingredient in a wide variety of recipes and meals, and they launched their first plant-based cheese commercially made in Aotearoa in 2015.
Angel Food has distribution across an estimated 1000+ food service iutlets across New Zealand, including all grocery chains plus cafes, restaurants, and quick-service restaurants.
Angel Food is looking to export its products, starting with Australia, and hopes to become the leading plant-based food brand in Australia within the next few years. Angel Food anticipates that its Australian launch will require $1m NZD investment, and this raise will be the first stage of a stepped approach to ensure that they can maximise value for their shareholders at each stage of investment.
The company has a current valuation of $4.6m NZD.* Angel Food’s crowdfunding rounds in 2015 and 2019 have enabled the company to grow fast and establish its leadership position within the plant-based foods sector while the category was in its infancy. To be consistently profitable, Angel Food is aiming for its revenue to exceed $5m NZD, which they believe they will achieve.
https://www.pledgeme.co.nz/investments/546-angel-food-limited
*Founder and CEO of Angel Food, Alice Shopland, said: “We’re excited to offer potential investors the opportunity to support our purpose-led brand. Despite a few tough years, we’re still #1 in retail and remain New Zealand’s leading plant food brand. Our investors will help us to continue our positive trajectory, while giving us the resources we need to grow and evolve the business to deliver the greatest impact. Now more than ever, we remain committed to our mission of making it easier for more people to choose plant-based meals more often. Where other plant-based categories – like milks, yoghurt, and ice cream are mature and crowded, plant-based cheese is still in its infancy – there is still lots of room for growth. We have great distribution in Aotearoa, and we want to share our range of delicious plant-based products with the world, starting with Australia.”
MAYO CHEESE SAUCE RECIPE FROM ANGEL FOOD
Ingredients:
½ C vegan mayo
½ C plant-based milk
½ C Angel Food plant-based cheddar, grated
Salt to taste
Method:
- Melt all ingredients together. You can blend with a stick blender or in a food processor for a super-smooth result.
- Taste for seasoning and add salt as desired.
- Serve hot.
