This analysis examines Britain's leading snack and confectionery businesses ranked by equity investment, alongside regional performance metrics, economic contribution data, and key investor activity in the sector.

Investment Landscape

Snack and confectionery companies have attracted over £316m in total investment since 2011, demonstrating consistent year-on-year growth with limited exceptions, notably 2020's pandemic disruption and a 2024 contraction.

The 2024 downturn marked the weakest performance in both transaction volume and value since 2015. Conversely, 2023 delivered exceptional results with over £110m deployed, representing more than one-third of the sector's cumulative investment concentrated in a single year.

This dramatic 2023 surge centres on Huel's £82.5m October raise (ironically completed on Halloween), accounting for approximately 75% of that year's total. Combined with Huel's previous £19.6m (2022) and £20m (2018) rounds, the three largest sector raises on record; these transactions explain the pronounced spikes in those respective years.

Leading Sector Investors

Crowdfunding platforms dominate early-stage financing in this sector. Crowdcube and Republic Europe (formerly Seedrs) lead by transaction volume with 44 and 25 rounds respectively.
Beyond these platforms, investor concentration drops sharply: Dragons' Den, SFC Capital, and UK Steel Enterprise each participated in just three rounds.

Total capital deployed presents different dynamics. Morgan Stanley tops the table at £82.5m following the 2023 Huel transaction. Highland Europe follows with £39.6m, then Republic Europe (£29.0m) and Crowdcube (£8.53m), the latter two benefiting from high transaction frequency.

However, average investment per company reveals more nuanced patterns. The East of England leads at £10.6m per company (driven by Huel's headquarters location), followed by the West Midlands (£1.7m), London (£1.4m), and North West (£951k).

Top Ten UK Snack & Confectionery Companies by Investment

10. Oppo Brothers
Capital Raised: £4.23m | Founded: 2013 | Base: London
Oppo Brothers manufactures premium low-calorie ice cream using coconut oil and artificial sweeteners. Since 2013, the company has completed six funding rounds totalling £4.23m, with nearly £3m secured in 2019. The business featured in the Financial Times' FT 1000 fastest-growing companies (2021 edition).

9. Boundless
Capital Raised: £4.26m | Founded: 2017 | Base: Wiltshire
Producing gut-friendly snacks containing activated nuts and seeds, this Wiltshire company has raised £4.26m across eight rounds since 2017. The most recent £1.64m round included investment from Graze co-founder Ben Jones, establishing an £11.1m valuation.

8. The Curators
Capital Raised: £4.62m | Founded: 2017 | Base: London
Manufacturing savoury snacks from biltong to high-protein crisps, The Curators has secured £4.62m over five rounds whilst completing one acquisition. Recent recognition includes appearing on Alantra's Food and Beverage Fast 50.

7. Hackney Gelato
Capital Raised: £5.19m | Founded: 2017 | Base: London
This London-based producer creates ice cream and sorbets using traditional Italian techniques. Since 2020, five funding rounds have delivered £5.19m, with investors including Crowdcube and Pembroke VCT. July 2024 data establishes a £6.35m valuation.

6. WNWN Food Labs
Capital Raised: £5.38m | Founded: 2021 | Base: London
Describing its mission as making chocolate "delicious, ethical, and sustainable," WNWN Food Labs produces cacao-free chocolate alternatives. The foodtech company has raised £5.38m and featured in The FoodTech 500 2023 high-growth list, with latest data showing an £18.4m valuation.

5. Northern Bloc
Capital Raised: £5.57m | Founded: 2014 | Base: Leeds
This Leeds manufacturer of natural-ingredient ice cream raised £5.57m across nine rounds before wholesaler Bidcorp UK acquired the business in June 2024. Prior to exit, Northern Bloc completed two acquisitions in 2023.

4. Proper
Capital Raised: £7.52m | Founded: 2009 | Base: Nuneaton
Known for popcorn and crisp snacks, Proper secured £7.52m over three rounds and appeared on two high-growth rankings: FT 1000 (2017) and FT Future 100 UK (2018). Exponent acquired the business in 2021.

3. Love Cocoa
Capital Raised: £8.85m | Founded: 2015 | Base: London
Founded by James Cadbury, great-great-great grandson of chocolatier John Cadbury, Love Cocoa has raised £8.85m, predominantly through two rounds in 2022 and 2023. The company sells chocolate bars directly to consumers online.

2. Nurture Brands
Capital Raised: £14.5m | Founded: 2014 | Base: London
Operating multiple plant-based snack brands, Nurture Brands has raised £14.5m across ten rounds during its ten-year history. The company completed one management buy-in and seven acquisitions, including 2024's purchase of The Juice Executive. Latest valuation: £30.3m.

1. Huel
Capital Raised: £123m | Founded: 2012 | Base: Tring
The meal replacement powder pioneer has expanded into healthy snack bars, establishing dominance in the nutritional snack category. With seven high-growth list appearances and over £123m raised across five rounds, Huel commands a £394m valuation. Morgan Stanley's latest investment targets US market expansion.

Sector Outlook

Despite 2024's investment contraction, the snack and confectionery sector demonstrates robust fundamentals. Emerging patterns suggest growing investor appetite for health-conscious and sustainable brands.

Ethical production methods and plant-based innovation feature prominently among top-performing companies, reflecting evolving consumer preferences. As international capital increases participation and regions beyond London gain momentum, production diversity will continue expanding across the sector.

GS Verde Group: Advisory for Food & Beverage Growth

Britain's snack and confectionery sector continues attracting consumer attention and investor capital through brand innovation and market positioning.

Beauhurst research confirms that businesses in this space pursue strategic opportunities to scale operations ahead of transactions, whether acquisitions, disposals, or capital raises.

GS Verde Group delivers integrated advisory services throughout the transaction lifecycle. Our corporate finance, legal, tax, accountancy, and communications specialists collaborate seamlessly to provide strategic guidance and deliver measurable outcomes.

Further analysis: Explore the UK snack and confectionery landscape at: https://www.beauhurst.com/blog/top-snack-and-confectionery-companies-in-uk/