Macaulay portfolio company, Devonvale, the leading baker of flapjacks, cereal bars, cakes and crumbles servicing UK and international retail, foodservice, vending and sports nutrition markets, recently completed a new equity round, supported by Macaulay and its Co-Investment Programme members.
The funding reflects a period of rapid growth for the company, and follows the move to new, larger, premises at the end of 2023. The business has been transformed since the initial acquisition of Devonvale in 2022. An enhanced management team, allied to the relocation to the new manufacturing facility, have combined to significantly increase production capacity, and will enable the business to move well beyond the c. 1 million bars per month produced to date.
This has been an exciting time for Devonvale, with the recent launch of its “Food for Good” brand, which is in partnership with Alzheimer’s Research UK, the UK’s leading dementia research charity. A brand new ‘Apple Pie Flapjack’ has been developed and approved by Alzheimer’s Research UK and will help in raising awareness and funds for this very worthy cause.