Member Article

Gateshead snacks business secures £3.5 million investment

Gateshead-based tortilla chip manufacturer It’s All Good (IAG) have secured £3.4 million investment from NVM Private Equity.

The funding will be used to expand manufacturing capabilities and product development, as the firm aim to become the top supplier of tortilla chips for the UK grocery industry.

IAG is lead by Calum Ryder, the former director of other North East snack manufacturer, Union Snack, which was backed by NVM in 1996 and sold to Intersnack in 2007.

The firm have invested heavily in production lines and has hit success with its Pitta Chip concept - currently drawing sales as an M&S branded product.

Calum said: “It’s All Good was born out of a desire to create products that are not only authentic and tasty but use only the finest ingredients and include absolutely nothing artificial. Our strategy is to dominate the quality end of the own label market and to build our Manomasa brand.

“The new funding will help IAG to become the ‘go to’ manufacturer for premium tortillas and other snacks. I have personally known and worked with NVM for many years, so we both trust each other’s judgement.

“With committed investors behind us, and a strong management team on the front line, I am excited about the future of IAG.”

Mauro Biagioni, director of NVM Private Equity, comments: “IAG is at the forefront of new product development in its sector. The management team are utilising their extensive experience of the snack industry to create fresh, innovative and trend-setting products.

“The business operates in a growing and robust market and has begun to secure new business with major grocery multiples.

“We are delighted to be given the opportunity to back an experienced and highly capable management team, with a Managing Director we have supported in the past. We are very impressed with what they have achieved so far.”

Joanne Pratt, FW Capital’s fund manager in the North East, comments: “Calum and the team have made excellent progress since setting up IAG in 2011. FW Capital’s investment provided the business with the backing it needed to grow and develop the high quality, innovative new products they’ve become known for.

“It also enabled them to secure a number of listings with major retailers and to develop their brand. FW Capital is keen to invest in more businesses like IAG and I’m delighted to see it moving so quickly to the next stage of its development with NVM’s support.”

This was posted in Bdaily's Members' News section by Tom Keighley .