AFTER issuing a financial bond on 29 February, Bristol organic food retailer The Better Food Company managed to raise its target amount of £350,000 in just ten days.
The company launched the bond issue, working in partnership with Triodos Bank, to raise funds to expand the business with the opening of a third store and café.
The offer was due to be open for the whole of March, but was quickly reached through investment from Better Food’s local suppliers, customers and investors from across the UK and beyond.
Phil Haughton, founder and MD of Better Food comments: “We are really excited that in just ten days we have fully funded our bond for our third shop. What makes it extra special is that we worked with like-minded partners to find like-minded investors to help us take a step closer our goal of ‘building a better, fairer food community’ in Bristol. We look forward to welcoming everyone to our new store very soon.”
The store is due to open in May in Wapping Wharf.
“Our partners, especially Triodos Bank, have done a fantastic job in helping us on this journey,” adds Haughton. “The Better Food Bond was developed with a team of local and ethical partners including Triodos, Ethex, Bates Wells Braithwaite and Eat Cake Design. Thank you to everyone for your help and support.”
Head of Triodos corporate finance, Dan Hird, adds: “We are delighted to be able to help [Better Food] access the capital it needs to further expand their business and offer investors the opportunity to invest directly in a successful and well known Bristol company.”
