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Nottingham group acquires Sheffield online retailer
Founded in 2018, by owner/operators Paul Simpson and James Barthorpe, Sheffield-based Food Circle is an online, direct-to-consumer retailer specialising in discounted foods for healthy and specialised diets such as high-protein and energy products.
Food Circle serves customers across the UK and has become a trusted partner for well-known brands within this market, including Huel, Nakd, Grenade and Optimum Nutrition, amongst others.
Food Circle delivers an average of 3,000 orders per month, with an average order value of £40. The business has seen strong growth since inception and delivered unaudited revenue of £1.4m and a small net loss of £46k for the year ended 31 December 2023.
With access to additional funds to grow its range and other expected synergies as a result of becoming part of Huddled Group, the Board believes that Food Circle can be grown significantly. Paul Simpson and James Barthorpe will continue in their current roles and will be supported to grow the business.
Martin Higginson, Chief Executive Officer of Huddled Group PLC, said: “We’re delighted to announce this exciting opportunity to further strengthen our position in the online surplus food and drink market, alongside our existing brand, Discount Dragon.
“Food Circle is positioned at the intersection of a number of market trends; the continued search for value among consumers, the demand for e-commerce and direct delivery services, and the growth in health and nutrition products to support active lifestyles.
“It has developed important relationships with brands for whom responsible disposal of surplus stocks remains a priority and this will remain a core mission for Food Circle.
“Paul and James have done an amazing job growing the business to a turnover of £1.4m with very limited capital and therefore range. We are convinced given access to additional funds the pair will quickly grow this business to new heights.”
Paul Simpson and James Barthorpe, Founders of Food Circle, said: “We are delighted that Food Circle is joining the Huddled Group plc family. We have worked hard to build our business from the ground up since our formation in 2018, and feel that now is the ideal time to join a growing group with exciting ambitions for the future.
“We believe that Huddled Group plc is the perfect partner to help us unlock the huge potential of Food Circle.
“The business is positioned in a rapidly growing market, and we are confident that this acquisition will enable us to build on the work we have done so far in helping brands to reduce waste, while maintaining their brand equity, and offering consumers access to high quality products at competitive prices.”
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Lincoln digital marketing agency sold
Peter Watson and Bradley McKenny, former Directors of Distract, have sold the digital marketing agency to Steve Bryant, founder and Managing Director of Umbrella Brands Group, behind affiliate marketing agency Thoughtmix.
As an old friend of Watson and McKenny, Bryant’s interest in Distract’s journey has always been more than just professional curiosity. Over time, he witnessed the agency’s growth, direction and potential. When the pair decided to sell the business to focus on new areas, Bryant was a natural fit to lead the next phase of its development with a clear vision for Distract’s future.
Having established Thoughtmix in 2015, Bryant has many years of experience scaling an agency and delivering partnerships that grow businesses worldwide.
Bryant’s portfolio includes working with brands such as cardfactory, National Express, and The Couture Club, and he is now ready to pass on his knowledge and expertise to help Distract grow and excel further.
Assuming the role of Managing Director, Bryant has exciting plans for Distract, redefining and consolidating its offering. Recognising the team’s strengths in paid advertising, Distract will become a specialist paid media agency.
He will work closely with Stephanie Henderson, the commercial and strategy lead, and Hannah Langton, the delivery lead, to implement the new business strategy and tactics.
Bryant is looking to focus Distract’s services on the B2C E-commerce, B2B and Education sectors.Bryant said: “I’m excited to lead Distract into its next phase of growth and development. The team deliver some exceptional results for its Clients, and I’m delighted to have been welcomed in to harness their skills and expertise.”
Stephanie added: “It’s a really exciting time for Distract. Steve brings a host of knowledge from his experience growing Thoughtmix to one of the largest agencies within the affiliate space. The offerings from both separate agencies complement each other really well and offer the potential for some really unique collaborations.”
Hannah said: “Steve’s approach to Distract and the direction he has presented have been very refreshing and give us a clear plan for the future. His experience in affiliate marketing has given the team a new perspective, and we’re all looking forward to the changes being made and the relationship with Steve and Thoughtmix.”