FDBusiness.com

Business Angel Food Syndicate Invests €700k in Elivar

 Breaking News
  • Royal Unibrew Completes Acquisition of French Lemonade Business Royal Unibrew, the Denmark-based beverages group, has completed the acquisition of Etablissements Geyer Fréres for an enterprise value of DKr660 million (€88.5 million) financed by bank debt. The acquisition of Etablissements Geyer Fréres will give Royal Unibrew increased access to the French soft drinks market and will further strengthen its export portfolio. Employing about 100 [...]...
  • Private Label Outperforms FMCG Brands in Europe Private label continues to grow across Europe and is now outperforming brands in the majority of markets measured by big data and technology expert for consumer FMCG industries, IRI in its analysis of private label performance across eight major Western economies markets (UK, France, Germany, Greece, Italy, Spain, Netherlands and the US) during 2017. Growing +4% year on [...]...
  • Meat & Poultry – Future-proof For Success The meat market remains fast-moving and competitive. As part of this processors and retailers are always looking for a point of differentiation. As well as new product development, this can mean new pack formats. Convenience remains a major driver here but this has to be matched by the ability to maintain product quality and freshness [...]...
  • Ready Meals – Not Ready For the Future New research (1) published by Eating Better, a powerful alliance of more than 50 organisations, shows that supermarkets need to shake up their ready meal ranges. They are not catering for the growing number of flexitarian customers who are cutting back on their meat eating for their health and the health of the planet (2). [...]...
  • Top 100 Largest Spirits Brands Revealed The world’s most popular alcoholic drink in 2017 was the South Korean soju brand Jinro, owned by Hite-Jinro, according to the IWSR Real 100, the definitive ranking of the world’s largest spirits brands by volume. Selling almost 76m nine-litre cases, Jinro retains its number one position from last year, and once again by a staggering [...]...

Business Angel Food Syndicate Invests €700k in Elivar

February 16
12:38 2014

Sports nutrition company Elivar has raised €700,000 from multiple sources, including the HBAN Food Syndicate, Enterprise Ireland and other private investors.

Elivar develops a range of sports nutrition products, specifically formulated and tailored for the over-35 age group.

On the back of this investment, Elivar will create 10 new jobs by the end of 2014. The positions will be in the areas of food science, production, e-commerce, marketing and finance.

HBAN’s new business angel Food Syndicate will support export-focused food, drink and nutraceutical start-ups.

HBAN director Michael Culligan said the Irish food industry, North and South, continues to grow. In the Republic of Ireland, the industry now accounts for 8.6pc of total employment and 11pc of all Ireland’s exports, with exports having surpassed the €9bn mark.

Elivar’s main markets are the UK and Ireland, from where 90pc of its current sales emanate. It also exports to Germany, France, Belgium, Italy and the Netherlands, and is looking to expand its sales channels across Europe in the coming year.
Food science

Donal Hanrahan and Len Dunne founded Elivar in Dublin in 2012. The duo trained and rowed at an international level in their 20s and now, in their 40s, are active in endurance sports.

They found that while there is an abundance of sports nutrition products that support endurance and recovery for young and elite athletes, there was nothing tailored for the needs of their specific age group, despite having different nutritional needs.

“While our initial funding was required to bring Elivar to market, the HBAN Food Syndicate investment also provides us with the active support of some of Ireland’s leading food entrepreneurs,” Hanrahan explained.

“In the long term it is their combined experience which will help us develop Elivar to its fullest potential, as a successful Irish food company operating in a global marketplace.

“The HBAN syndicate model was perfect for us. An issue for companies seeking investment is the time it takes to get in front of the right investors. The Food Syndicate gave us the unique opportunity to address a group of engaged investors, with a specific interest in food investments.”

Elivar’s core products have been developed with nutritionists and food scientists to deliver a full nutrition system, providing the correct levels of energy, protein and micronutrients to athletes who are over 35.

Alison Cowzer is managing director of The Company of Food and is also a founding member of the HBAN Food Syndicate.

“We are a very new business angel syndicate, founded under the auspices of HBAN,” she said. “The syndicate chose Elivar as our first investment as its founders really impressed us. They had clearly researched their market and the growth potential for this business. The clear niche they have identified in the expanding over 35s sports market shows the innovative nature of this product and we see this as a long-term sustainable market.

“As a new syndicate, we are seeking further business angels to join our group and thereby add to the levels of funding we have available for Irish businesses and the expertise and market insights we can share,” Cowzer said.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements