We are The Pet Drinks Company. A category creator in the pet care market.
Business overview
Location | St Ives, United Kingdom |
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Social media | |
Website | www.woofandbrew.com |
Sectors | Food & Beverage Non-Digital Mixed B2B/B2C |
Company number | 08370145 |
Incorporation date | 22 Jan 2013 |
Idea
Introduction
The 2019 Christmas run-up was difficult for retailers with Brexit and political uncertainties creating a uniquely difficult environment in early December. As a result we found ourselves behind target and substantially overstocked with product that thankfully still had a good shelf life of more than two years.
We reacted quickly to the situation, and took a number of cost saving measures: including redundancies in the media team and operations, reduced staff working hours and nearly 50% Director salary cuts. We also secured a loan of £120k (which will not be repaid out of the proceeds of this funding round).
With the recent addition of challenging trading conditions due to the onset of Corona virus, we have decided to do a quick funding round of £300k. This funding is being strictly restricted to current shareholders, and is being done on a first come first served basis at a 50% discount to the last round.
Substantial accomplishments to date
Prior to the lockdown, we had received confirmation that we were going to be stocked in all John Lewis stores would also also be selling through The White Stuff stores around the UK. Perhaps most importantly we have also secured a joint marketing arrangement with one of the largest pet food manufactures in the UK - Natures Menu. We will be supplying our drinks alongside their natural treats in hotels, cafes and pubs. The Natures Menu's sales force will also be selling our range of products in the UK and overseas.
Use of proceeds
This funding will put us on the front foot to take on the opportunities being generated by the products' growing profile in the pet food industry. We firmly believe the recent orders from John Lewis, White Stuff and Natures Menu represent a step change opportunity for the business and its valuation, and I am convinced we should not jeopardise these prospects for want of funding. Please contact me directly to participate in the round.
Key Information
The business has two outstanding business loans totalling £457k. They are both with A2K Investments Ltd which is a business owned by the Chairman. They are interest only and repayable on demand, but they will only start to be repaid out of profits of the business before any dividends are paid.
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