Dragon's Den Success!
Congratulations to our client Adelle Smith and BKD London Ltd whose success on Dragons Den was made public last Sunday on BBC2.
Multi-award winning children’s baking company, BKD has secured investment from British entrepreneur and businessman Peter Jones CBE assisted by Co- in preparing for the bid.
Adelle Smith launched BKD from her kitchen in Shoreditch, London, in May 2015, after reigniting her passion for baking when making her son’s first birthday cake. The business has grown rapidly since then, with revenues of £151,000 in 2017 and over 30,000 units being sold.
The brand’s products are now stocked in retailers including John Lewis, Moonpig, Gousto and Arnotts throughout the UK and Ireland.
Adelle pitched to the five dragons, including new investors Jenny Campbell and Tej Lalvani, asking for £80,000 in return for 20% equity in the business. Dragons Peter Jones CBE and Jenny Campbell were both interested and offered the full amount in return for 35% and 30% equity stakes, respectively. Adelle opted for Jones’ higher 35% offer due to the investments he has made in serveral food businesses, including Levi Roots and for his connections with key UK retailers including Sainsbury’s.
Adelle has been very generous in her acknowledgement of our role saying:
“Thanks again for all your help, literally couldn't have done it without you.”
Of the investment Adelle Smith says, “I’m absolutely ecstatic to have Peter on board and the investment will allow us to massively escalate our growth. We plan to continue expanding within the UK and Ireland, via direct customer sales, retailers and supermarkets, as well as looking into European export opportunities. BKD has had a lot of interest from countries all over the world. We also intend to spend the investment on digital marketing, PR, website and technology improvements and extra machinery.”
Peter Jones CBE, says, "I'm absolutely delighted with my investment in Adelle and her company BKD. I'm sure that both she and the business will benefit from the explosion in interest in the baking category over the last few years. I've already tried out the kits with my own family and we had great fun sharing the experience so I'm confident about the company's future."
