Dorren and Van der Kuyl unveil Parsley Box IPO
Chris van der Kuyl: chairman (pic: Terry Murden)
Ready meal provider Parsley Box has announced its intention to float on London’s Alternative Investment Market.
The Edinburgh-based company, chaired by Chris van der Kuyl, targets its meals at the “baby boomer+” generation. It said it would give its customers the chance to invest in the firm as part of the IPO.
Parsley Box has grown rapidly since inception and delivers c.900k products per month to its loyal and growing Baby Boomer+ consumers, broadly defined as those aged 60 years and over.
The company provides ambient ready meals, which are not required to be stored in a fridge or freezer, have a shelf life of up to six months and are cooked in minutes.
The directors believe that admission to AIM will help Parsley Box accelerate its growth plans primarily through investment in marketing spend with the aim of becoming a household name in a currently underserved market.
In addition, it will raise the group’s profile, assist with attracting and retaining key employees who may be further incentivised through the new share plans and provide the group with an appropriate platform for further growth.
Chief executive is Kevin Dorren and three new independent non-executive directors, Chris Britton, Hazel Cameron and Ana Stewart will join the board ahead of admission in late March / early April.
Mr Dorren said the admission to AIM “marks an important milestone’ for Parsley Box.
“Our fast growth trajectory clearly demonstrates the market opportunity from the Baby Boomer+ consumer for the convenience of our high quality, affordable, quick and delicious ready meals delivered to their door.
“We see ourselves as a challenger brand that is redefining the category and have only just begun to satisfy the demand of this underserved demographic, with a clear strategy to continue this growth. We also believe we have a first mover advantage through already having over 500k registered users.
“An IPO provides us with an attractive platform to realise our growth ambition, whilst also enabling our loyal customers and valued employees to share in our future success. We are proud of our track record to date, excited about the next phase in Parsley Box’s development and the opportunity to deliver significant value for all of our shareholders.”
Mr van der Kuyl added: “We’re entering an exciting new growth phase and have ambitious plans to build a brand that caters for the needs of the original rule breaker generation; baby boomers feel decades younger than their parents did when they retired and they’re looking for convenience, freeing up time to live life to the fullest.
“To help us reach our growth ambitions we’ve strengthened and diversified our Board with the appointment of three new non-executive directors who bring a wealth of complementary skills and experience to help guide Parsley Box in this new chapter.”
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