Product Business of the Year 2017
Pip & Nut
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
Last year, we speculated that 2017 could be the year that Britons go nuts for Pip & Nut and that prediction has certainly come true – with sales growing 400% to hit £3m turnover this year.
The reason behind this impressive growth? It all starts with a great product.
The Pip & Nut brand has continued to evolve its offering in the two years since it started. Its nut butter range now features 10 nut butter products including smooth and crunchy peanut butter, almond butter, cashew butter, and a limited-edition chocolate coconut and hazelnut butter. These come in 1kg tubs, 255g jars and on-the-go squeeze packs.
In July 2017, Pip & Nut made its first foray out of the nut butter space with the launch of three almond milks: unsweetened, honey and vanilla, and coconut.
Throughout this growth, the business has remained true to its core values: no palm oil, no refined sugar, and no additives. The range can be bought on the Pip & Nut website, on Amazon, and at more than 4,000 stockists across the country including Sainsbury’s, Holland & Barrett, Selfridges, Tesco, Asda and Ocado.
By the end of the year, Pip & Nut will have launched in five new global markets: The Netherlands, Norway, Ireland, Iceland and Cyprus, and the brand is targeting £10m turnover by the end of 2018, and £25m by 2020.
In service of this bold ambition, Murray has brought Suraj Gangani, former head of grocery at Innocent Drinks, on board as head of sales to help spearhead its growth.
A focus on continued innovation and investment in product development, combined with a no-nonsense brand, led to our judges crowning Pip & Nut the Startups Awards Product Business of the Year 2017.