People’s Champion finalist 2017: Pip & Nut
Customers and investors have gone nutty for this multi-million-pound natural nut butter brand – is it your favourite for People’s Champion 2017?
Start-up name: Pip & Nut
Founder: Pip Murray
Started in: January 2015
Based in: London
Business description: Healthy range of natural nut butters and almond drinks
The Pip & Nut story:
29 year-old Pip Murray has come a long way from starting her namesake business Pip & Nut in a garden shed with a Start-Up Loan.
The 2016 Women in Business of the Year winner has scaled her natural nut butter brand to achieve sales of over £3m (400% growth on the previous year), more than 4,000 stockists around the UK including Sainsbury’s, Tesco, ASDA, Ocado, and now employs a team of 10.
Despite having no prior experience in the food and beverage market, Murray – a keen marathon runner whose penchant for peanut butter on-the-go inspired the business idea – has won over investors and customers.
The female entrepreneur has secured funding through an equity crowdfunding round on Crowcube followed by two private investment rounds, and saw Vita Coco EMEA CEO Giles Brook join as advisor and then lead investor in 2016.
Brands have also been keen to get in on the action with successful collaborations with big name players such as Nike, Made.com, Oliver Bonas and Virgin Sport.
Championing the idea that healthy food, particularly nuts, doesn’t have to be boring or inaccessible, Pip & Nut has recently extended its range from nut butters and squeezy packs to launch a range of almond milks.
Launched in July 2017, the drinks are the first and only range to offer flavor blends with Honey & Vanilla and Coconut variants.
Next in the pipeline for Murray and her inspiring F&B start-up is international expansion.
By the end of 2017, the brand will have launched in five new territories; The Netherlands, Norway, Ireland, Iceland and Cyprus. While in the UK, Murray has appointed Suraj Gangani, former head of grocery at Innocent Drinks, as head of sales to help further penetrate the market.
With nut butter a growing category, Murray intends to take the brand to revenues of £10m by the end of 2018.
Why Pip & Nut made our shortlist:
Having launched Pip & Nut at the age of 27 with no prior experience, Murray has proven herself to be an accomplished entrepreneur. With strong sales to date, Pip & Nut has changed public perception of nut butters from ‘just a spread’ to on-the go snack, while more recently shaking up the almond milk industry with a UK first.
Aiming to take Pip & Nut to sales of over £25m by 2020, Pip & Nut – which started out with just £10,000 via The Start Up Loans Company – serves as an inspiring story of what can be achieved with a great business idea and global growth ambitions.