We are investing in THIS
At Graffiti sustainability is one the key investment themes. However, in a world full of fake sustainability claims, ESG scandals and greenwashing, to find great investments in the space is very hard.
We all know that the production of meat of one of the key factor in the world pollution (just 1 stat: over 1,000 litres of water are required to produce 1 kg of chicken or meat), but at the same time the quality of the existing plant based products include poor taste and substance, presence of a myriad of sweeteners and other ingredients that makes the plant based food super processed.
THIS is different. THIS created the best plant based chicken/pork/beacon in Europe, in terms of taste, flavour, substance but without any of the downsides (they’re high in protein, low in saturated fat and are GMO-free, carcinogen free, and nitrate free).
The 2 founders, Andy and Peter, are marketing genius, with relevant experience in the food industry and a previous exit under their belt. Their smart and fun marketing and branding campaigns create the biggest European community of plant based fans, with over 100k Instagram followers, 21% UK awareness ratio and a 39% purchase repeat ratio.
The traction of the last 3 years is nothing but exceptional. The revenues annual run rate is £17.5m, and in the UK consumer space just HUEL delivered more revenues after 3 years of operations (other consumer champions like Gousto, Bloom and Wild and Gymshark have less than £10m Revenues in year 3).
The journey ahead is full of hurdles, including the challenge to expand in Europe (where the presence of plant based lovers is low vs the UK), the competition from well-funded US and Asian players and the rising cost of the ingredients.
However, I believe that THIS can become the www.brewdog.com/uk of the plant based meat market, leveraging the best taste in the industry, the power of the brand, the marketing talent of the team and the international and new products expansion opportunities (Note: Brewdog is currently valued at £1.8bn).