Angel Food, New Zealand’s #1 plant-based food brand, has announced its latest crowdfunding raise, which will launch on
PledgeMe on the 19th of June.
Angel Food is looking to raise a minimum of $200,000 (for a share of 4.17% of the company) with a maximum raise of
$500,000 (for a share of 9.8% of the company). The minimum investment is $331.00 (for 10 shares at $33.10 per share).
The share offer will close on 3 July (or when fully subscribed if earlier).
The capital raised will be used for investment in marketing, innovation (including the continued improvement of existing
products and new product development), and talent resource (including the procurement of an experienced GM), while also
helping the brand prepare for its launch into Australia in 2024.
Angel Food is Aotearoa’s largest and most experienced plant-based cheese company, going strong for 17 years. Founder and
CEO of Angel Food, Alice Shopland (an entrepreneurial vegan activist), and her team have been championing the benefit of
embracing plant-based foods long before plant-based and vegan diets were mainstream.
The brand and products resonate with ‘flexitarians’, a newer and much larger market, who are discovering that Angel
Food’s products make plant-based eating easy. By choosing to go plant-based, the positive impact is beneficial for both
the environment and animals. Plant-based cheese has half the environmental impact of dairy cheese.
Angel Food’s core product focus is dairy-free cheese alternatives, with a production of more than 130 tonnes of cheese
per year. Angel Food decided to focus its product range on dairy-free cheese given that it’s a key ingredient in a wide
variety of recipes and meals, and they launched their first plant-based cheese commercially made in Aotearoa in 2015.
Angel Food has impressive distribution across all grocery chains plus cafes, restaurants, and quick-service restaurants
across New Zealand, as well as companies that supply vegan pies and vegan sausage rolls into petrol stations, so fans
can access Angel Food in more than 350 retail stores and an estimated 1000+ food service outlets across New Zealand.
Angel Food is looking to export its products, starting with Australia, and hopes to become the leading plant-based food
brand in Australia within the next few years. Angel Food anticipates that its Australian launch will require $1m NZD
investment, and this raise will be the first stage of a stepped approach to ensure that they can maximise value for
their shareholders at each stage of investment.
Angel Food has a current valuation of $4.6m NZD.* Angel Food’s crowdfunding rounds in 2015 and 2019 have enabled the
company to grow fast and establish its leadership position within the plant-based foods sector while the category was in
its infancy. To be consistently profitable, Angel Food is aiming for its revenue to exceed $5m NZD, which they believe
they will achieve.
Founder and CEO of Angel Food, Alice Shopland, said: “We’re excited to offer potential investors the opportunity to support our purpose-led brand. Despite a few tough years,
we’re still #1 in retail and remain New Zealand’s leading plant food brand. Our investors will help us to continue our
positive trajectory, while giving us the resources we need to grow and evolve the business to deliver the greatest
impact. Now more than ever, we remain committed to our mission of making it easier for more people to choose plant-based
meals more often. Where other plant-based categories – like milks, yoghurt, and ice cream are mature and crowded,
plant-based cheese is still in its infancy - there is still lots of room for growth. We have great distribution in
Aotearoa, and we want to share our range of delicious plant-based products with the world, starting with Australia!”