Cocoon has invested in a buyout of Tofu business, R&R Tofu Limited. R&R started 30 years ago making handmade organic Tofu under the Clear Spot brand and sells into the health food sector. It has a superior product, turns over c£600k and has an EBITDA of between £70-100k pa.
An opportunity exists to build a Tofu focussed brand through major retailers.
The acquisition forms the platform on which an experienced management team will launch and build a significant branded business in Meat Free that we believe in the long term will be a £15m brand.