New Wave Foods has secured new six-figure investment from its biggest shareholders to progress the production of its Scottish seaweed, expand the SHORE range and create new products.
Since launching a year ago, the Wick-based food firm’s grain chips have become the biggest selling non-potato bagged snack in existing regional supermarket listings - according to Neilson data - recently bagging new listings with Morrisons, Holland & Barrett and Booths.
A new Smoky BBQ chip flavour joins the existing three later this month and its Sweet Sriracha chips also appear in the Craft Gin Club’s November subscription box.
The latest equity fundraising round should enable the sustainable food firm to further expand the distribution of its products across UK retail and bring more products to market under its Scottish Seaweed Co brand, starting with two new plant-based Ramen Broths, made with the same seaweed that is hand harvested along the Scottish coastline for the crisps.
New Wave Foods will use part of the funding to drive forward its sustainable production of Scottish seaweed, including farming at their site near Oban.
SHORE joint managing director Keith Paterson said: “We see a substantial opportunity to replicate what the brand has achieved in Scotland across the whole UK, with a HFSS-compliant snack that actually tastes great and has a proven leading rate of sale.
“We are also excited to be launching a delicious new plant-based Ramen range, inspired by our own hand harvested seaweed.”
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