Mon, 02 Jun 2014 | BUSINESS SALE
Diet Chef, the online business that delivers low-calorie meals to customers, is looking into a possible sale.
It has brought in advisers at Grant Thornton to assess options for a sale of the business, the Telegraph has reported.
Revenues at the business have rocketed to £15 million in 2013 from £7 million in 2010, the year when private equity group Piper plugged £3 million into the company. Piper holds a 40 per cent stake in the business, and specialises in consumer brands.
Started in a garage by Kevin Dorren and Andrew Veitch in 2008 with a £500,000 loan from RBS, Diet Chef is now the largest delivery company of diet meals, with over 100,000 customers on its books.
Mr Dorren’s initial idea was that more people would be able to shed pounds successfully if they had access to a personal chef. Diet Chef delivers pre-made microwaveable meals to those who sign up for its monthly packages, which range from £39 to £60 per week in cost.
The company recently decided against placing a bid for another diet firm - Rosemary Conley - after it entered administration.
Diet Chef’s management team has been refreshed recently with the addition of former web sales executive at Laithwaites Wine, Mike Smith, and Brigitte Read, who was previously at the People’s Postcode Lottery.
The Mail online recently ran a feature on Sven Stears, 25, who lost five stone in six months in a weight loss competition with his father by using Diet Chef.
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