The Northern Powerhouse Investment Fund II (NPIF II) has completed its first equity investment in the Yorkshire and Humber region since the launch of the £660m fund in March this year.
Based in Harrogate, Kirsty’s, the ‘free from’ range of ready meals, has raised £2m from NPIF II – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund II.
With the funding from NPIF II, Kirsty’s will be able to launch new ‘food to go’ ranges and develop other new products. The investment is expected to add 15 new jobs to its 55-strong team in the next six months at the company’s Harrogate factory. As part of the deal Ian Kent, the former Commercial Director of Stateside Foods, has been appointed as Chair.
Created and launched by Kirsty Henshaw, Kirsty’s was founded in 2009 after discovering that her son Jacob had multiple food allergies, including to nuts, as well as dairy intolerance. With so few healthy and tasty food options available to her, she began experimenting with different recipes and started selling small batches of ice cream to health food stores.
Gaining in popularity and receiving interest from major retailers such as Tesco, she took her business to Dragon’s Den in 2010. After successfully securing backing from Peter Jones and Duncan Bannatyne, Kirsty subsequently bought back their shares three years later after launching her meals into supermarkets across the country in 2012.
In 2020, Kirsty’s opened a state-of-the-art 100 per cent allergen-free factory in Harrogate bringing all its manufacturing operations in-house.
The company supplies all the major supermarkets.
Kirsty Henshaw, founder of Kirsty’s, said: “Nothing beats fresh, home cooked food, however with modern life being busier than ever, we know that’s not always achievable, especially for those with allergies who have to prepare everything from scratch. We set out to create a range of healthy, convenience foods that everyone could enjoy whether they have an allergy or not.
“Our success is a real testament to our hard-working team. This funding will enable us to take the business to a new level and fulfil its true potential.”
Chris Borrett of Mercia Ventures said: “Kirsty is an incredible founder with a deep passion, an unstoppable drive and infectious personality. She has built a strong brand, a great team and a defensible platform for future growth.
“As our population becomes more aware of what they consume, and with busy lives and more dual income households, Kirsty’s is poised to truly lead the healthy convenience and allergen-free sectors. With strong relationships with all the major UK retailers and a roadmap of exciting new products, we are excited about the growth journey ahead.”
