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Watford's Vegetarian Express set to scale after £5.6m investment

London-based investment firm Bridges Ventures has taken a controlling interest in plant-based food supplier Vegetarian Express following a £5.6m investment.

The investment, which has been derived from the Bridges Sustainable Growth Fund III, will see Bridges work in tandem with the Watford business’ current shareholders, including founder David Jonas and Will Matier.

Tim Kelly, former Chief Operating Officer of Premier Foods, joins Vegetarian Express as its new Executive Chairman.

Founded in 1987, Vegetarian Express suppliers plant-based ingredients, such as quinoa, tofu, nuts and spices, to the foodservice industry and works closely with chefs to develop new menu ideas and products.

The firm’s ingredients are already supplied to over 2,500 catering locations in the UK across its range of over 1,000 products.

Oliver Wyncoll, Partner of Bridges Ventures, commented: “We’re delighted to announce this new investment in VE, and we’re excited by the prospect of working with David, Will, Tim and the team to accelerate the growth of the business in the coming years.

“We all believe in the benefits of plant-based products – which are growing in popularity as consumers make more informed health and environmental choices – and VE has the best range available. It’s a great example of a business whose impact will increase in lock-step with its growth.”

The investment, which is the ninth such investment out of the fund, continues Bridges Ventures’ strategy of specialist sustainable investments, driven by consumer demand for healthy food options.

Tim Kelly, the new Executive Chairman of Vegetarian Express, said that Bridges’ involvement will assist the business as it hopes to scale in a high-growth sector.

He added: “VE has built a really strong platform as the go-to supplier of high-quality plant-based food ingredients. Bridges has a proven track record of helping businesses like VE to scale, in a way that amplifies their impact, so they’re a perfect partner for our next phase of growth.

“I look forward to working with Bridges and the VE team to build the business and give chefs the ingredients to develop great-tasting no-meat and lower-meat dishes, offering consumers a much broader choice.”

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