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Huddled Group plc, the Nottingham-based business focused on building a portfolio of e-commerce brands, has acquired online retailer Food Circle Supermarket for up to £300,000.
The acquisition comprises the entire stock, intellectual property and website and other social channels of Food Circle.
Founded in 2018, by owner/operators Paul Simpson and James Barthorpe, Sheffield-based Food Circle is an online, direct-to-consumer retailer specialising in discounted foods for healthy and specialised diets such as high-protein and energy products.
Food Circle serves customers across the UK and has become a trusted partner for well-known brands within this market, including Huel, Nakd, Grenade and Optimum Nutrition, amongst others.
Food Circle delivers an average of 3,000 orders per month, with an average order value of £40. The business has seen strong growth since inception and delivered unaudited revenue of £1.4m and a small net loss of £46k for the year ended 31 December 2023.
With access to additional funds to grow its range and other expected synergies as a result of becoming part of Huddled Group, the Board believes that Food Circle can be grown significantly. Paul Simpson and James Barthorpe will continue in their current roles and will be supported to grow the business.
Martin Higginson,
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