From our accounts:
The second is an investment in Meat and Co Ventures, which sees SA acquire a 10% equity position in the company and provide £18,000 of working capital via a secured loan, carrying 6% over base rate interest and a sensible three-year repayment plan. This has been matched by the directors.
The company launches at the end of July 2023, on the back of an existing client bank which previously delivered £2m of turnover per annum.
The directors at SA have helped to restructure the business. Secured a partnership with a British-based meat wholesaler, with a strong track record in delivering meat to retail customers. This structure brings the wholesaler directly into the equity of the company, binding all parties towards a profitable and successful consumer experience. www.Meatandco.co.uk
Previous business was turning over more than £2.5m per annum and delivering meat and meat products to over 15,000 homes per annum.
The company was closed due to a change in their meat supplier network and failings in quality standards, (not sure we should say too much as the supplier is still in business and is big, but is more focussed on wholesale than direct-to-consumer models).
Had a great reception from old customers and in the first week have already shipped hundreds of orders to homes across the UK.
The wholesaler owns 45% of this business and the management owns 45% making it a very strong partnership and great for delivering high-quality products to the consumer as the supplier is in direct partnership with the consumer. A symbiotic relationship.
From their website:
Our family heritage is farming and butchery, retaining traditional values to serve quality meat at wholesale prices to our loyal following.
Meat & Co is the UK’s best value online butchers offering quality meat at unbeatable value. The demand for quality meat at unbeatable prices delivered to the customers front door led to the creation of Meat & Co.
Founded in 2012, our reputation has been established on only the finest quality produce served to its valued customers at exceptional prices. We pride ourselves on delivering high quality meat at a wholesale price. We aim to deliver the best for less.
All our meat is bought directly from approved farmers from around the world, so it is guaranteed to be environmentally sensitive, produced with the highest animal welfare standards in mind, and matured traditionally. Resulting in high quality meats which have full traceability and are extremely cost effective.
Based in St. Austell Cornwall and surrounded by soft lush pastures we are privileged to work with some of the finest farmers anywhere in the world, who are dedicated to producing food in a regenerative and sustainable way. Generations of craft and experience goes into rearing livestock, and the result is quite simply, better meat. We source sustainable and quality meat from our trusted farmers and ensure ethically sourced produce from farm to plate. We also deal with some of the worlds finest purveyors of meat from British and South American beef, Iberican Spanish pork, New Zealand lamb and much more.
Our master online butchers use time honoured methods to provide tender, delicious meat and poultry.