Adelle Smith of BKD
Founder Adelle Smith received offers from two of the investors on Dragons' Den before choosing to accept an offer from Peter Jones CBE.
Award winning children’s baking company BKD has secured investment from British entrepreneur and businessman Peter Jones CBE after appearing on BBC Two’s Dragons’ Den.
Adelle Smith launched BKD two years ago from her kitchen in Shoreditch, London, after reigniting her passion for baking whilst making her son’s first birthday cake.
The business has grown rapidly since then, with revenues of £151,000 in 2017 and over 30,000 units being sold.
The brand’s products are now stocked in retailers including John Lewis, Moonpig, Gousto and Arnotts throughout the UK and Ireland.
When she entered the den, Smith focused her pitch on BKD’s line of Mini Bakers Club subscription kits for children aged 3-8 years, a newer element of the business that is very popular.
However, despite the Dragons airing their concerns over the slow start the subscription kits had made, she still managed to win over two of the Dragons.
Smith pitched to the five dragons, including new investors Jenny Campbell and Tej Lalvani, asking for £80,000 in return for 20% equity in the business.
Dragons Peter Jones CBE and Jenny Campbell were both interested and offered the full amount in return for 35% and 30% equity stakes, respectively.
Smith opted for Jones’ higher 35% offer due to the investments he has made in serveral food businesses, including Levi Roots and for his connections with key UK retailers including Sainsbury’s.
Speaking after the show, Peter Jones CBE, said: "I'm absolutely delighted with my investment in Adelle and her company BKD.
“I'm sure that both she and the business will benefit from the explosion in interest in the baking category over the last few years.
“I've already tried out the kits with my own family and we had great fun sharing the experience so I'm confident about the company's future."
Adelle added: “I’m absolutely ecstatic to have Peter on board and the investment will allow us to massively escalate our growth.
“We plan to continue expanding within the UK and Ireland, via direct customer sales, retailers and supermarkets, as well as looking into European export opportunities.
“BKD has had a lot of interest from countries all over the world. We also intend to spend the investment on digital marketing, PR, website and technology improvements and extra machinery.”
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