Ex-St Pierre Groupe CEO David Wagstaff has made a significant investment in the emerging UK firm Good Guys Bakehouse, focusing on innovative developments within the food and drink business.
Wagstaff participated in a £300,000 ($407,000) funding round for this savoury biscuits enterprise, established in 2021 by former Pladis executive Steve Monk. This move aligns with ongoing food and beverage industry trends emphasizing innovation.
In addition to his investment, Wagstaff has assumed the role of non-executive director at Good Guys Bakehouse. He expressed his enthusiasm on LinkedIn, stating, “I am delighted to have the opportunity to take up an NED/board and investor position with Good Guys Bakehouse. Steve Monk has developed a real game-changing offering in a category requiring innovation and modernization, trading on legacy brand propositions.”
Currently, Good Guys Bakehouse products are available at major retailers such as Sainsbury’s and Ocado in the UK, as well as Tesco in Ireland and Albert Heijn in the Netherlands. With this latest funding round, the company has raised a total of £900,000.
Monk, who retains majority ownership, chose not to disclose the firm’s annual sales figures but noted, “I can say that where listed, our rate of sale is in the top 30% of the savoury biscuits category.” He shared with Just Food that Good Guys Bakehouse is positioned for growth through upcoming contracts in both UK and international markets.
Furthermore, the company is scaling its operations by increasing distribution of its successful Good Guys Bakehouse Biscuit Melts. There are also exciting new listings in the pipeline across the UK, Europe, and the Middle East. Monk emphasized the strong pipeline of innovation aimed at attracting younger, health-conscious consumers, effectively tapping into current food and drink consumer trends.
This strategic investment not only reinforces Wagstaff’s commitment to innovation in the food sector but also highlights the ongoing shift toward healthier snack options that resonate with today’s consumers.