Snacking biscuit challenger Good Guys Bakehouse has raised £550k to support the retail growth of its biscuit melts range.
The raise was backed by several heavyweight FMCG angel investors, including Nick Bunker, Non-Exec Chair of Spar Retail UK and ex-MD of Pladis UK and KP Snacks, David Bell, Chair of Hackney Gelato and ex-VP Sales Mars UK, and Tom Carroll, ex-COO of Graze.
Good Guys, which was founded by ex-United Biscuits General Manager Steve Monk, launched its range of wafer-based biscuit melts into Sainsbury’s and Ocado in January last year.
The funding will be used to ramp up marketing to drive trial and support new listings. The firm is also looking to expand its team and develop new products.
Monk said: “Over the past year, we have successfully disrupted an ageing savoury biscuits category, securing major listings with Sainsbury’s and Ocado and attracting younger, health-conscious shoppers to the aisle.
“There’s a clear consumer appetite for tastier and healthier savoury snack biscuits, baked with more cheese than the leading cheese biscuits brand but with only five calories per biscuit.
“Now, with a successful investment round complete, we are in a strong position to scale up our grocery presence in the UK, driving distribution and opening up new listings. In addition, we’ll be ramping up our marketing efforts, building the team, and growing our product range as we head into the second half of 2024.
“As a brand, we have a unique opportunity to reinvigorate the savoury biscuits category with a new and exciting product proposition, and with the backing of high calibre industry investors, we are perfectly poised to do this.”
Good Guys also announced the appointment of Nick Bunker as a Non-Exec Director. He commented: “Over the course of my career, I’ve been involved with a number of brands that have demonstrated genuine potential to go the distance. Good Guys is one of them. This raise is a significant milestone in the brand’s mission to shake up the savoury biscuits category, and with Steve at the helm, we are on course to make Good Guys Bakehouse a household name in the UK and beyond.”
