FDBusiness.com

Business Angel Food Syndicate Invests €700k in Elivar

 Breaking News
  • Florette Further Expands its UK Business In line with its strategy to be a major player within the UK fresh produce category, Florette UK & Ireland (part of the French Agrial group) has acquired the Wigan site of MyFresh Prepared Produce, a producer of a wide range of salad and vegetable products. MyFresh, Wigan, which employs almost 300 people and was [...]...
  • FrieslandCampina Simplifies its Organisation Royal FrieslandCampina intends to simplify its organizational structure into four to be set up global business groups – Consumer Dairy, Specialised Nutrition, Ingredients and Basic Dairy. A less complex structure will enable FrieslandCampina to more decisively respond to the market developments and to innovate better with respect to strategic priorities. The objective of the new [...]...
  • Heineken’s Acquisition of Punch is Cleared The Competition and Markets Authority (CMA) has accepted proposals by Heineken to resolve concerns over its £402.7 million acquisition of Punch Taverns, one of the UK’s largest leased pub companies, with a portfolio of more than 3,500 pubs nationwide. In June, the CMA said that Heineken’s proposed purchase of part of the Punch Taverns estate [...]...
  • Changing Consumer Tastes Drive Long-term Global Sugar Market Slowdown The consumers’ shift away from sugar consumption is an important driver behind significant changes in the food and beverage industry. These changes will have long-term ramifications, including a likely slowdown in the worldwide sugar market, according to the latest report of Rabobank ‘Sweetness and Lite’. A combination of changing preferences, product reformulations and government pressure have [...]...
  • How is the Rise of E-Commerce Changing the Role of Physical Stores? The rise of the internet has allowed retailers to directly connect with consumers from beyond the physical store revolutionising the competitive space more than ever. The world recently saw the acquisition of Amazon and Whole Foods which sent shock waves through the retail industry. This unforeseen merger has put retailers under pressure more than ever [...]...
  • SPX FLOW Appoints Pierre Sbabo as Vice President, Food and Beverage in EMEA SPX FLOW has announced the appointment of Pierre Sbabo as the Vice President of its Food and Beverage business in EMEA. He comes from a strong background in the water and process technology markets with truly international experience. With a Master’s Degree in Marketing and International Business from ESC Chambery, Sbabo has worked for global leaders [...]...

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 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements