Faegre Baker Daniels has advised snack brand, Emily Crisps, which manufactures fruit and vegetable crisps, in its sale of a minority stake of the business to Inverleith LLP and investor club, Hothouse Brands Ltd. The move will see Emily Crisps expand its range, marketing and distribution in the UK and overseas. The value of the deal was not disclosed.
The company was founded in 2014 by partners Emily Wong and Alessandro Ascani as a healthy, great tasting alternative to traditional potato crisps and fruit snacks. Originally launched exclusively in Selfridges, it has grown significantly over the last two years and is now stocked in over 1,000 retail locations in over ten countries worldwide. First launched with three fruit crisp varieties, the brand has recently expanded its offering with the introduction of two new vegetable crisp varieties.
The business has ambitious plans to become a key player within the snacking market in the UK, Europe and further afield. Its aim is to provide health conscious consumers with the opportunity to indulge in guilt-free snacking, offering the goodness of fruit and vegetables in a crisp with great crunch and taste.
Inverleith LLP & Hothouse Brands Ltd has purchased a significant minority stake in the business. Following the investment, founder Emily Wong will become Chief Executive and founder Alessandro Ascani will assume the role of Chief Operating Officer. A newly created Board of Directors will see heavy-weight industry experts assuming non-Executive Board positions.
The FaegreBD corporate team advising Emily Crisps on the sale of the minority stake was led by partner Gary Laitner, with assistance from associate Jeannette Meyer.
Commenting on the Inverleith LLP & Hothouse Brands Ltd’s investment, Chief Executive of Emily Crisps, Emily Wong said:
”We are delighted that Inverleith LLP & Hothouse Brands has acquired a stake within Emily Crisps. We knew this was the right time to seek investment and wanted an investor partner who would recognise the uniqueness of what we have created, the opportunity, understand our brand vision and help to take us to the next level. The Inverleith LLP & Hothouse Partner team and wider network brings a wealth of strategic and commercial experience to the Emily Crisps business. Combined with their investment, we believe we can build on the early success of Emily Crisps and continue to drive its brand and products as the healthy indulgence snack of choice across the UK and further afield. We would like to thank our fantastic legal team at Faegre Baker Daniels who advised on this strategic and significant deal.”
Inverleith LLP & Hothouse Partner, Paul Skipworth, commented:
”Emily Crisps is the perfect addition to our current portfolio of investments. In Emily and Alessandro, the founders, we have seen two talented entrepreneurs create a unique product which taps into several key growing trends within the food and health and wellbeing categories. Supported by the Inverleith LLP & Hothouse experience and expertise, we believe that Emily Crisps is perfectly positioned to becoming a leading healthy indulgence snack of choice for those who wish to be able to snack healthily without sacrificing on quality or taste.”