Riding the crest of the vegetarian and vegan wave, Parsnipship have acquired vegan nut-based cheese alternative producer Nutchi’s with support from Welsh Government’s Investor Ready Programme.
What started as a market stall at Cardiff’s Riverside Market in 2007 is today an innovative business that supplies Wales’ major wholesalers Castell Howell and Blas Ar Fwyd, as well as numerous farmshops, delis, cafes and restaurants right across Wales with their unique and original vegetarian and vegan food.
The acquisition of Nutchi’s will not only enable Parsnipship to grow their core vegan range but also to develop the vegan nut-based cheese alternative range further.
Flo Ticehurst, Director at Parsnipship comments “At The Parsnipship we are always thinking about how we can develop and diversify, so when the chance to acquire this innovative one-woman business came along rather serendipitously we couldn't resist!
Nutchi's, as a business and a brand shares many of our values, most obviously around encouraging a plant-based diet but also around sustainability. We're looking forward to developing the Nutchi's brand and products further and have begun exploring some new product development which will bring our two brands together in a beautiful and harmonious way.”
The Parsnipship received support through Welsh Government’s Investor Ready Programme, delivered by BIC Innovation, throughout the acquisition process, Flo comments on the support received “We’re a small business and it was difficult to know how to value a business and put together a proposal with which to approach Nutchi’s. Through previous Investor Ready support, the team knew and understood our business and helped us draft the Head of Terms”
Minister for Rural Affairs and North Wales, and Trefnydd, Lesley Griffiths said: “Since its inception in 2017, the Investor Ready Programme has benefitted more than 180 food and drink businesses. The Programme is vital in supporting owners and managers to improve their financial acumen and ensure businesses themselves are better prepared for potential investment.
“It is great to see small businesses expanding at this time, and responding to the demands of the fast- growing vegetarian and vegan food sector”.