Fri, 04 Nov 2022 | ADMINISTRATION
An upmarket soft drinks supplier has fallen into administration and a buyer is now being sought for the business. No1 Botanicals, which trades as Rosemary Water Ltd., has seen considerable growth since it was founded in 2017, but fell into financial difficulties as a result of the disruption facing the hospitality sector.
Clare Lloyd and Henry Shinners of Evelyn Partners were appointed as joint administrators of No1 Botanicals on October 25 and are now marketing the business and its assets, including intellectual property, for sale, with the hope of securing a rescue deal for the company.
Evelyn Partners said in a statement: “The brand and products have benefited from very significant investment over the past three to four years and we expect that there will be much interest from parties who see an opportunity to build on that. Any interested party should contact our office for further information.”
The company was founded by David Spencer-Percival in London in 2017. In 2019, the company raised £1.2 million from 568 investors via a crowdfunding campaign on Crowdcube, which valued the business at over £25 million.
This crowdfunding campaign served as a “top-up” investment on an initial £4 million fundraise also completed in 2019 with existing investors. The firm’s rapid growth saw it attract notable shareholders, including British actor Henry Cavill, who starred in a marketing campaign for the business, and Take That singer Howard Donald.
In its accounts for the year ending December 31 2020, the company’s fixed assets were valued at £52,390 and current assets at £1.5 million, while its net assets amounted to £346,603.
No1 Botanicals produces a range of sparkling waters blended with herbs including ginger, rosemary and ashwagandha. The firm’s drinks are free from sugar, sweeteners and preservatives and come in fully recyclable packaging.
Reach out to the administrators here.
Click here to view the UK's latest distressed businesses.
View recent UK administrations.
This prime city centre gastro pub in Leeds offers a superb opportunity for an experienced operator to establish a thriving business in a high footfall area, with the potential to create a lively day-to-night atmosphere by featuring premium ales and a...
LEASEHOLD
This award-winning, family-run brewery and restaurant offers a unique blend of traditional brewing techniques and modern flavours, situated in the stunning Lake District.
This is a rare chance to own a prestigious independent burger brand in the affluent town of Hitchin, renowned for its powerful brand presence and loyal customer following.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.