A sweet deal for investors

A sweet deal for investors

A recent crowdfunding campaign launched by Cheshire-based Haughton Honey is proving to be a sweet deal for investors.

Haughton Honey packs and sells raw English honey produced by both the company itself and independent commercial bee farmers.

Since launching in 2014, the company has steadily expanded and recently began supplying the fine food retailer Booths.

The company is now hoping to move onto the next stage of growth after launching a £80,000 crowdfunding campaign via Crowdcube in return for shares in the business.

After less than a month, a total of 111 investors have now backed the campaign investing a total of £56,260 with 10 days remaining.

Founder Crispin Reeves said: “Since we began trading, we’ve established more than 70 regional sales outlets across the North West and Midlands, as well as recently winning our first premium supermarket customer, Booths, who started stocking Haughton Honey at the beginning of April.

“During 2015 we packed and sold over 8,000kg of English honey and anticipate requiring more than double that amount during 2016. Now is the time to seek additional investment to support the growth of Haughton Honey so that we can take on more bee farmers, increase our honey production to satisfy our growing month-on-month demand, and hopefully achieve a listing with a second premium multiple retailer.”

Speaking on the campaign so far, he said: “We’ve had a flood of enquiries from potential investors seeking more details and in order to process them and allow them time to consider the investment, we’ve extended the deadline for investment by two weeks.

“I’ve been delighted to see so much interest in investing in Haughton Honey and in helping us to expand and meet the growing demand for our pure, raw honey.”

The honey market within the UK is worth £119.5m per annum, with healthy annual growth. UK sales of jams, spreads and honey grew 5.9% in the year up to October 2015, with growth in honey sales alone between 2014 and 2015 increasing by £9.8m year-on-year.

As Haughton looks to capitalise on this growing demand for premium honey, the firm is also exploring export markets in a project spearheaded by Mel Reeves, Haughton Honey’s second director and wife of Crispin.

Mel is a professional linguist, fluent in both French and Spanish, and hopes this will help the company when pitching for new business overseas.