The London-based nut butter manufacturer has appointed US investment bank Piper Sandler to assess a potential sale valued at as much as £100 million, according to a report first published by The Times.
The company has not begun a formal sale process, while both Pip & Nut and its Minneapolis-based advisers have so far declined to comment.
Earlier this year, a secondary share sale conducted through crowdfunding platform Crowdcube placed the business’ valuation at up to £72 million.
Sources in the City have identified Intersnack, which owns KP Snacks, and US consumer goods major Mars as possible buyers. Mondelez, the owner of Cadbury, has also been mentioned as a potential bidder.
Founded in 2013, Pip & Nut moved into retail two years later. Its products are now available through leading UK supermarkets, including Tesco, Sainsbury’s, Waitrose, Asda and Morrisons.
Alongside its core peanut butter range, the company sells almond butter, filled oat bars and protein bars. This wider portfolio reflects key food and drink consumer trends, including demand for convenient, higher-protein and better-for-you snacking options.
The challenger brand has made significant gains against established names such as Sun-Pat and Whole Earth. In 2025, it became the UK’s leading nut butter brand by value.
Pip & Nut’s accounts show that revenue rose by around 50% in 2025, reaching £26.3 million. The company also moved into pre-tax profit, reporting £104,000 compared with a £325,000 loss the previous year.
The business counts former Vita Coco chief executive Giles Brook among its principal investors, and he remains chairman. Its growth comes against a backdrop of wider food and beverage industry trends, including food manufacturing trends, food distribution trends and food and drink industry innovation. Brand owners are also responding to developments in food and drink sustainability, food and drink regulations, food and drink packaging and food and drink marketing.