Healthier biscuit challenger Good Guys Bakehouse has raised £550,000 from some of the biggest names in the industry as it aims to increase brand awareness and accelerate its retail rollout.
Angel investors backing the business include Nick Bunker, former managing director of Pladis UK, David Bell, current chairman of Hackney Gelato and former director of Mars UK and Young's Seafood, and Tom Carroll, former COO of Gray's and CEO of British Corner Shop.
The Good Guys, which was founded in 2021 by former United Biscuits general manager Steve Monk, launched its range of wafer-based biscuit melts in Sainsbury's and Ocado in January last year.
The company, which was named a finalist for the 2024 Grocer Gold Awards' Start-up of the Year award, said it was attracting new shoppers to the savoury biscuit aisle and driving growth in the category.
The new funding will be used to ramp up marketing, support the IPO, expand the team and invest in NPD.
“Over the past year we have successfully revolutionised the stale savoury biscuit category by securing key ranges with the likes of Sainsbury's and Ocado, attracting younger, health conscious shoppers to the shelves,” Monk said.
“There is clearly a consumer appetite for a tastier, healthier, savory snack biscuit that is baked with more cheese than the leading cheese biscuit brands and contains just five calories per piece.”
“Following the successful completion of our investment round, we are now in a strong position to expand our grocery sales in the UK, increase distribution and open new listings. In addition, we will be stepping up our marketing activity, building our team and expanding our product range towards the second half of 2024.”
In addition to participating in the latest round of funding, Bunker also serves as chairman of the board of directors of Spar Foods and has become an independent director of The Good Guys.
“Throughout my career, I've been involved with many brands that have shown real longevity potential,” he added, “and The Good Guys is one of them.”
“This capital increase marks an important milestone in the brand's mission to revolutionise the savoury biscuit category and, with Steve at the helm, we are committed to making Good Guys Bakehouse a household name in the UK and internationally.”
Good Guys claims its Melt Biscuits have 50% less fat than standard flavoured biscuits and are made with “real ingredients” without any added flavourings or added oils.
“As a brand, we have a unique opportunity to reinvigorate the savoury biscuit category with a new and exciting product proposition and, with the support of some of the best investors in the industry, we are perfectly positioned to make this happen,” Monk said.
