Investments & Acquisitions

Veg Capital Triples Investment for SHICKEN to Become a Global Brand & Major Producer Within 5 Years

UK-based SHICKEN Foods, creator of vegan Asian dishes (presently curries and kebabs) featuring highly realistic “chicken” created from a blend of soy, wheat, and pea proteins, today announces it has received an additional £4 million from Veg Capital, to take the brand fully global. This brings the total funding to date to £6 million in SHICKEN from the non-profit VC firm.

The fresh capital will be used for further CAPEX investment in the brand’s state-of-the-art manufacturing facility in Kent, making it one of the UK’s few dedicated plant-based, nut-free manufacturers. The company will now have the capacity and capability to produce various branded and private-label products for both retail and foodservice.

Made using a unique technology that creates a chargrilled chicken-like texture, the SHICKEN products have enjoyed exponential success over recent years, expedited by an initial investment from Veg Capital in late 2021 when the unique product caught the attention of Matthew Glover, followed by a further £2 million injection the following spring.

SHICKEN Tikka kebab
© SHICKEN Foods

The products initially launched into Costco and have since rolled out into Tesco in the UK and most recently into 380 Sprouts Farmers Market stores across 23 US states as well as gaining incremental listings across Costco UK, Iceland, Sweden, and France with its latest NPD Teriyaki Kebab. Following the latest retail listings, the brand says it is projected to achieve five times its current growth.

A phenomenal journey

Co-founder Parm Bains said: “It has been a phenomenal journey for SHICKEN so far and we’re incredibly excited to see business scale on an international level, both as a brand and as one of the UK’s few dedicated BRC accredited specialist primary plant-based manufacturers.”

Matthew Glover comments on the increased investment: “The SHICKEN range is simply delicious, and their curries and kebabs are flying off the shelves – it was a no-brainer for Veg Capital to reinvest. We’re excited to play our part in helping this family business go global over the coming years.”

SHICKEN
© SHICKEN

Parm Bains adds, “Veg Capital has been the perfect partner, aligning with our commitment to a more ethical and sustainable food system and backing our potential to become a global brand and major plant-based producer within the next five years.

“This investment allows us to realise the ambitions for SHICKEN and to offer our proteins and develop recipes on a private label basis, where I can also leverage my 20 years’ experience within food manufacturing across the major retail and foodservice channels.”

Further information at shickenfoods.com

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