Graze.com undergoes management buy-out, led by Carlyle Group

2009 Young Gun Graham Bosher exits healthy snack delivery site

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  • Abigail Van-West

Healthy snack subscription service Nature Delivered, which trades as Graze.com, has undergone a management buy-out backed by the Carlyle Group.

As part of the deal for an undisclosed sum, co-founder and CEO Graham Bosher successfully exited, with paperwork filed on Christmas Eve confirming his resignation from the board.

Stepping down as CEO, Bosher has taken on a non-executive director role; the 2009 Young Gun told Growing Business that he plans to take his first proper break in 12 years.

Graze's chief marketing officer and former head of marketing Anthony Fletcher has taken over the firm as UK MD, having joined the company in 2009 following six years at Innocent Drinks.

He and chief financial officer Andrew Gibbs, a fellow Yankee Acquisitions director – which was set up by the pair prior to the deal – will now lead the business during a period of continued fast-growth.

The pair were backed by major US private equity firm The Carlyle Group, which was reported in August last year by the Daily Telegraph to be interested in pursuing a £50m deal. It joined existing investors including DFJ Esprit and Octopus Investments.

It was Octopus which led a £2m venture capital round involving DFJ in 2009. Venture partner at Index Ventures and prominent angel backer Robin Klein is also listed as a shareholder. Meanwhile early investors William Reeve, former director of LoveFiLM, Zoopla and Secret Escapes and director of Touch Local Mark Livingstone also exited the firm.

Founded in 2007 by a group of seven friends, led by Graham Bosher, Graze delivers letter-box sized healthy snack packages on a subscription basis.

The firm, which experienced a turnover rise to £20.9m in December 2012, compared to £8.1m in the previous year, plans to use the new investment to fund further growth and is looking to continue expanding its staff base, having recently advertised a series of positions to add to the 50-strong company.

Abigail Van-West

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