Business

Health food business eyes Europe with BGF backing

Muscle Food secures £10m in new backing to help it establish a second operation in Europe

Darren Beale, chief executive of Muscle Food which has secured £10m in new funding

A healthy eating company has secured £10 million in new investment to help it expand into Europe.

Muscle Food has agreed a deal with equity investor BGF to support its international expansion plans by setting up a second base in Europe.

The firm was set up in 2013 by chief executive Darren Beale and sells premium lean meats, high-protein food and sports supplements.

It operates a distribution centre in West Bromwich and a office team in Nottinghamshire.

After attracting a loyal following of fitness enthusiasts, bodybuilders and athletes, the brand has been winning a broader customer base of health and cost-conscious eaters in the UK and Europe and counts former Olympic athlete Iwan Thomas among its fans.

Muscle Food's own branded products, predominantly meats, seafood, eggs and snacks, and 'Live Clean' meal boxes have been delivered to more than half a million homes across Britain.

The company recently starting exporting to Europe and sales reached £45 million in the year to 31 March 2017, up from £14 million in 2015.

Earlier this year, Muscle Food began selling its range of products, including Protein Pizza, said to be the UK's fifth largest pizza brand, in Sainsbury's and will be launching soon in Morrisons.

Mr Beale said: "The Muscle Food team care passionately about making it easier for our tribe of customers to achieve their fitness and health goals - this mission has been critical in driving the expansion of the company.

"The partnership with BGF will help us accelerate our growth and switch even more customers on to our unique proposition."

Greg Norman, investor with BGF, said: "The Muscle Food team are talented, focused and passionate.

"They have successfully managed the high-growth experienced in the last three years and are ambitious about accelerating the expansion.

"We are pleased to be supporting the group as it continues to scale."

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