Stockhub

THIS: Difference between revisions

Page Discussion
No edit summary
Line 1: Line 1:
[[File:This logo.jpg|thumb|THIS logo]]
[[File:This logo.jpg|thumb|THIS logo]]
'''THIS™ makes award-winning plant-based food for meat-lovers.'''
'''THIS™ makes plant-based food for meat-lovers.'''


== Business highlights ==
== Summary ==


* Fastest growing plant-based meat brand in the UK (333% YoY)
* THIS is a company that's on a mission to shatter meat-eaters preconceptions of plant-based food.
* £17.5 million annualised revenue after just 2.5 years of trading<ref name=":0">based on unaudited management accounts.</ref>
*It has a total of 11 products, all of which are plant-based foods.
* 10,000+ retail distribution points across all major UK retailers
*The size of the global food market as of today (26th June 2022), in terms of revenue, is $8.3 trillion.
* Partnerships with many of the UK's flagship restaurant chains
*The degree of risk associated with an investment in THIS is higher than in a company that's say trading on a public market (such as, HSBC).


== Introduction ==
== Operations ==
<vimeo>720733039</vimeo>
<vimeo>720733039</vimeo>


THIS™ makes plant-based products, designed to make animal-based products feel like a massive waste of money.
=== How did the idea of the company come about? ===
The idea came to the founders of the company when they were looking for an alternative to meat and were unable to find anything suitable. In their quest to create the most realistic meat alternatives in the world, the company was born.


Having launched just under 3 years ago, THIS™ is now the fastest-growing meat alternative brand in the UK (333% for FY 2021). THIS™ has also recently hit an annualized revenue of £17.5million (based on Jan 2022 sales*). Revenue growth has been fairly punchy since launch:
=== What's the mission of the company? ===
THIS™ is on a mission to shatter meat-eaters preconceptions of plant-based food.
===What's the company's main offering(s)?===
THIS™ has 11 products, all of which are plant-based foods.


£5.5m in year 1 (2020)<ref name=":0" />
=== From which place(s) are the offerings able to be purchased? ===
The main places that the offerings are able to be purchased is through the company's website, major UK retailers, which is estimated at 10,000 retailers, leading UK restaurant chains, major wholesalers (such as Bidfood, Brakes, Wholegood, Blakemore, and VegExpress) and delivery retailers (such as Getir, Gorillas, Zapp & GoPuff).


£11.8m in year 2 (2021)<ref name=":0" />
== Key accomplishments to date ==


THIS™ was created when Andy & Pete (co-founders) checked out meat-free food - as meat-lovers at the time, and decided that they didn't overly want any of it. After successfully exiting their meat-based restaurant business, Chosen Bun, Andy and Pete set out to make the most realistic meat alternatives in the world.
* THIS is the fastest-growing meat-alternatie brand in the UK (333% YoY)
* In under three years, THIS has gained listing in all major UK supermarkets, including Tesco, Sainsbury's, Asda Morrisons, Co-op, Waitrose and Ocado.
* The repeat purchase rate is 39%.
* THIS has raised £20m.
* THIS is listed (and named on the menu) of some of the biggest restaurants/hotels in the UK, including Caffe Nero, Premier Inn and Ask.
* THIS has had a significant amount of press coverage, with >600 mentions/features, reaching >1.4 billion readers.
* THIS is the first plant-based meat brand to feature on the menu of a UK Michelin-starred restaurant.
* THIS has >100,000 followers on Instagram.


THIS™ has a range of 11 products, which are now in over 10,000 distribution points across all major UK retailers. The brand has also partnered with leading restaurant chains in the UK.
== Competition ==
{| class="wikitable"
|+Competition comparison
!Brand
!2021 sales
!2021 sales change
|-
|Quorn
|£170.3m
| -7.2%
|-
|Linda McCarthney
|£63.6m
| -4.6%
|-
|Cauldron
|£32.1m
|1.1%
|-
|Richmond
|£27.2m
|191%
|-
|The Tofoo Co
|£23.8m
|38.6%
|-
|Birds Eye Green Cuisine
|£19m
|64.8%
|-
|Vivera
|£17.3m
|4.8%
|-
|Beyond Meat
|£11.6m
|106.8%
|-
|THIS
|£11.3m
|333%
|}


[[File:Revenue since launch.jpg|600x600px]]
== Fundraising ==
The company is currently in the process of raising funds, and the funds will be used to accelerate growth through increased brand marketing, innovation, manufacturing and working capital.


== Substantial accomplishments to date ==
As part of the fundraise: (i) THIS has secured £3.26m from existing shareholders & institutional investors; and (ii) a further allocation is being made available to customers & investors via Seedrs, with a third party committed to invest up to £1.55m of any unfilled portion of the Seedrs allocation on the same terms as this campaign.
[[File:THIS stats.png|600x600px]]


[[File:Grocery sales.jpg|600x600px]]
The third party is connected to Seedrs, but this should not be seen as an endorsement by Seedrs or any other party; investors must, as always, make their own investment decision.
 
== Monetisation strategy ==
THIS™ is on a mission to shatter meat-eaters preconceptions of plant-based food, one rasher or nugget at a time. THIS™ products are now available in over 10,000 retail points and restaurants across the UK (with around a 70:30 retailer/restaurant revenue split).
 
Almost all of the brand's restaurant partners co-brand, which means they find it beneficial to call out THIS™ on their menus. That of course also helps raise THIS™ brand awareness and loyalty.
 
THIS™ is also listed with major wholesalers too, including Bidfood, Brakes, Wholegood, Blakemore, and VegExpress which supply to hotels, pubs, cafes, caterers, restaurants and independent shops, and rapid delivery retailers (including Getir, Gorillas, Zapp & GoPuff) nationwide.
 
As well as aiming to massively increase distribution, THIS™ is also investing heavily into building a formidable innovation engine within the company, so that they can deliver loads more plant-based innovation to the category.
 
[[File:Monetisation strategy.jpg|600x600px]]
 
== Use of proceeds ==
Topline aims are to accelerate growth, grow brand awareness, and drive trial and penetration (recruitment of new customers to plant-based). This investment will be used for:
 
* Brand marketing: in 2022, THIS™ plans to increase the marketing spend, focusing on Above the Line projects for the first time. They've achieved a huge amount with fun(ny) PR stunts and Instagram, but it’s time to get properly famous.
* Innovation: in 2022 THIS™ plan to build and launch a state-of-the-art innovation centre in West London. That will provide the Innovation team with a pilot production facility, Food Science Laboratory, and a fully equipped commercial kitchen.
* Manufacturing: throughout 2022 and alongside our manufacturing partners, THIS™ plans to invest in manufacturing equipment to support new launches and bring lasting efficiency savings to several product lines.
* Working Capital: these funds go to support revenue growth (i.e. trade debtors & inventory holding).
 
[[File:Caramelised Onion Tray Bake.jpg|600x600px]]
 
== Key information ==


=== Share classes ===
== Share classes ==
The company has three classes of shares; Ordinary, Series A preference, and Series B preference.
The company has three classes of shares: Ordinary, Series A preference, and Series B preference.


All investors in this round, including Seedrs, will receive Series B preference shares.
All investors in the current round, including Seedrs, will receive Series B preference shares.


Series A preference and Series B preference shares rank equally and carry a 1x non-participating preference. On an exit or liquidation, the holders of these preference shares will receive the amount of their initial investment back first, and the remaining proceeds will then be distributed amongst all ordinary shareholders. The preference shareholders will have the option to convert their preference shares into ordinary shares.
Series A preference and Series B preference shares rank equally and carry a 1x non-participating preference. On an exit or liquidation, the holders of these preference shares will receive the amount of their initial investment back first, and the remaining proceeds will then be distributed amongst all ordinary shareholders. The preference shareholders will have the option to convert their preference shares into ordinary shares.


=== Fundraise details ===
== Financials ==
As part of this fundraise: (i) THIS has secured £3.26m from existing shareholders & institutional investors; and (ii) a further allocation is being made available to customers & investors via Seedrs, with a third party committed to invest up to £1.55m of any unfilled portion of the Seedrs allocation on the same terms as this campaign.
Based on January 2022 sales<ref name=":0">based on unaudited management accounts.</ref>, annualised revenue is £17.5million. No revenue figures have been provided for the most recent four months, suggesting that annualised revenue is lower now than before (i.e. in January 2022).
 
The third party is connected to Seedrs, but this should not be seen as an endorsement by Seedrs or any other party; investors must, as always, make their own investment decision.
 
== Investor perks ==
[[File:Investor rewards.jpg|600x600px]]


Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above.
In terms of the source of the revenue, it's around a 70:30 retailer/restaurant split.
{| class="wikitable"
|+Income statement
!Year/Item
!Year 1
!Year 2
!Year 3
!Year 4
|-
|Year end date
|31/12/2018
|31/12/2019
|31/12/2020
|31/12/2021
|-
|Revenue
|NA
|NA
|£5.5m<ref name=":0" />
|£11.8m<ref name=":0" />
|}


== Team ==
== Team ==
Line 84: Line 130:


[[File:Mark Turner.jpg|none|thumb|Mark Turner]]
[[File:Mark Turner.jpg|none|thumb|Mark Turner]]
== Risks ==
As with any investment, investing in THIS carries a level of risk. Overall, based on the key risks highlighted below, the degree of risk associated with an investment in Stockhub is higher than in a company that's trading on a public market (such as, Beyond Meat).
=== Early-stage investment[edit | edit source] ===
THIS is at one of the earliest stages of the business lifecycle, and the failure rate of companies at that stage is usually much higher than those at a later stage.
=== Illiquid investment[edit | edit source] ===
The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the THIS investment opportunity is considered to be higher risk than more liquid companies.


== Actions ==
== Actions ==

Revision as of 23:08, 26 June 2022

THIS logo

THIS™ makes plant-based food for meat-lovers.

Summary

  • THIS is a company that's on a mission to shatter meat-eaters preconceptions of plant-based food.
  • It has a total of 11 products, all of which are plant-based foods.
  • The size of the global food market as of today (26th June 2022), in terms of revenue, is $8.3 trillion.
  • The degree of risk associated with an investment in THIS is higher than in a company that's say trading on a public market (such as, HSBC).

Operations

How did the idea of the company come about?

The idea came to the founders of the company when they were looking for an alternative to meat and were unable to find anything suitable. In their quest to create the most realistic meat alternatives in the world, the company was born.

What's the mission of the company?

THIS™ is on a mission to shatter meat-eaters preconceptions of plant-based food.

What's the company's main offering(s)?

THIS™ has 11 products, all of which are plant-based foods.

From which place(s) are the offerings able to be purchased?

The main places that the offerings are able to be purchased is through the company's website, major UK retailers, which is estimated at 10,000 retailers, leading UK restaurant chains, major wholesalers (such as Bidfood, Brakes, Wholegood, Blakemore, and VegExpress) and delivery retailers (such as Getir, Gorillas, Zapp & GoPuff).

Key accomplishments to date

  • THIS is the fastest-growing meat-alternatie brand in the UK (333% YoY)
  • In under three years, THIS has gained listing in all major UK supermarkets, including Tesco, Sainsbury's, Asda Morrisons, Co-op, Waitrose and Ocado.
  • The repeat purchase rate is 39%.
  • THIS has raised £20m.
  • THIS is listed (and named on the menu) of some of the biggest restaurants/hotels in the UK, including Caffe Nero, Premier Inn and Ask.
  • THIS has had a significant amount of press coverage, with >600 mentions/features, reaching >1.4 billion readers.
  • THIS is the first plant-based meat brand to feature on the menu of a UK Michelin-starred restaurant.
  • THIS has >100,000 followers on Instagram.

Competition

Competition comparison
Brand 2021 sales 2021 sales change
Quorn £170.3m -7.2%
Linda McCarthney £63.6m -4.6%
Cauldron £32.1m 1.1%
Richmond £27.2m 191%
The Tofoo Co £23.8m 38.6%
Birds Eye Green Cuisine £19m 64.8%
Vivera £17.3m 4.8%
Beyond Meat £11.6m 106.8%
THIS £11.3m 333%

Fundraising

The company is currently in the process of raising funds, and the funds will be used to accelerate growth through increased brand marketing, innovation, manufacturing and working capital.

As part of the fundraise: (i) THIS has secured £3.26m from existing shareholders & institutional investors; and (ii) a further allocation is being made available to customers & investors via Seedrs, with a third party committed to invest up to £1.55m of any unfilled portion of the Seedrs allocation on the same terms as this campaign.

The third party is connected to Seedrs, but this should not be seen as an endorsement by Seedrs or any other party; investors must, as always, make their own investment decision.

Share classes

The company has three classes of shares: Ordinary, Series A preference, and Series B preference.

All investors in the current round, including Seedrs, will receive Series B preference shares.

Series A preference and Series B preference shares rank equally and carry a 1x non-participating preference. On an exit or liquidation, the holders of these preference shares will receive the amount of their initial investment back first, and the remaining proceeds will then be distributed amongst all ordinary shareholders. The preference shareholders will have the option to convert their preference shares into ordinary shares.

Financials

Based on January 2022 sales[1], annualised revenue is £17.5million. No revenue figures have been provided for the most recent four months, suggesting that annualised revenue is lower now than before (i.e. in January 2022).

In terms of the source of the revenue, it's around a 70:30 retailer/restaurant split.

Income statement
Year/Item Year 1 Year 2 Year 3 Year 4
Year end date 31/12/2018 31/12/2019 31/12/2020 31/12/2021
Revenue NA NA £5.5m[1] £11.8m[1]

Team

Co-founder

Andrew Shovel

Co-Founder

Pete Sharman

Managing Director

Mark Turner

Risks

As with any investment, investing in THIS carries a level of risk. Overall, based on the key risks highlighted below, the degree of risk associated with an investment in Stockhub is higher than in a company that's trading on a public market (such as, Beyond Meat).

Early-stage investment[edit | edit source]

THIS is at one of the earliest stages of the business lifecycle, and the failure rate of companies at that stage is usually much higher than those at a later stage.

Illiquid investment[edit | edit source]

The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the THIS investment opportunity is considered to be higher risk than more liquid companies.

Actions

To invest in THIS, click here.

To contact THIS, click here.

References

  1. ↑ 1.0 1.1 1.2 based on unaudited management accounts.
Retrieved from ‘https://stockhub.co/index.php?title=THIS&oldid=3284’