The Edinburgh-based company delivers 900,000 ready meals a month with shelf lives of up to six months
Parsley Box, which delivers ready meals to older consumers, is seeking to trade on the AIM market at the London Stock Exchange.
Edinburgh-based Parsley Box said it delivers 900,000 ready meals a month, which don’t require storage in a fridge or freezer and have a shelf life of up to six months. Its revenue grew from £8 million in 2019 to £24 million last year.
The company stated that its customers will be given the opportunity to become shareholders in the prospective initial public offering. It has engaged investment service Primary Bid for the float.
Following the move, Parsley Box has appointed three non-executive directors: Chris Britton, Hazel Cameron and Ana Stewart.
Britton has experience at board level and as an investor in a number of food and drink companies, including Ella’s Kitchen, Graze and Findus Group and until recently sat on the board of DS Smith.
Cameron has non-executive director experience across a range of sectors including technology, media, and telecom, retail and pharmaceutical, while Stewart is a creative entrepreneur with experience as chief executive of i-design Group and a 25-year record in start-ups, venture capital funding, IPOs and exits.
Kevin Dorren, chief executive of Parsley Box, said: “Announcing our intention to list on AIM to enable our loyal customers to become shareholders marks an important milestone for Parsley Box. Our fast-growth trajectory clearly demonstrates the market opportunity from the baby boomer-plus consumer for the convenience of our high-quality, affordable, quick and delicious ready meals delivered to their door.
“We see ourselves as a challenger brand that is redefining the category and have only just begun to satisfy the demand of this underserved demographic, with a clear strategy to continue this growth. We also believe we have a first-mover advantage through already having over 500k registered users.
“An IPO provides us with an attractive platform to realise our growth ambition, whilst also enabling our loyal customers and valued employees to share in our future success. We are proud of our track record to date, excited about the next phase in Parsley Box’s development and the opportunity to deliver significant value for all of our shareholders.”
Chris van der Kuyl, non-executive chairman of Parsley Box, added: “We’re entering an exciting new growth phase and have ambitious plans to build a brand that caters for the needs of the original rule breaker generation. Baby boomers feel decades younger than their parents did when they retired and they’re looking for convenience, freeing-up time to live life to the fullest.
“To help us reach our growth ambitions we’ve strengthened and diversified our board with the appointment of three new non-executive directors who bring a wealth of complementary skills and experience to help guide Parsley Box in this new chapter.”
Date published: 9 March 2021