UK natural nut butter business accelerates growth with massive financial boost

By Gill Hyslop

- Last updated on GMT

Pic: Pip & Nut
Pic: Pip & Nut

Related tags Pip & Nut Hsbc nut butters

Pip & Nut is ramping up its ambitious growth plans following a seven-figure finance package from HSBC UK.

Launched in 2015, the brand is now the fastest growing nut butter brand in the UK, according to the London-based producer.

Pip & Nut’s portfolio comprises eight nut butters, available in jars, squeeze packs and tubs, in flavours such as Blueberry Muffin (limited edition), Peanut, Almond and Coconut Almond. Its products are available in over 6,000 stores around the UK and Ireland, including Sainsbury’s, Holland & Barrett, Boots, Tesco, ASDA, Morrisons, Whole Foods Market, Supervalu, Booths and Selfridges, as well as on Amazon and Ocado.

Pippa Murray CEO and Owner of Pip  Nut

"We have hugely ambitious plans that would not be possible without HSBCs backing.” - ​Pippa Murray

The range contains no palm oil, refined sugars or artificial ingredients. Pip & Nut recently obtained its B Corporation certification, meaning it meets the highest standards of social and environmental performance, accountability and transparency.

Maximise working capital

“The financial package provided by HSBC UK will be instrumental in allowing us to maximise the working capital within our business,”​ said Pippa Murray, CEO and owner of Pip & Nut.

“Our nut butter brand is continuing to grow – and quickly – and we have hugely ambitious plans that would not be possible without HSBCs backing.”

For the first time, Pip & Nut went above the live with a tube campaign in September 2019 and February 2020 to drive awareness of its nut butters. It also expanded into the impulse category with a three-strong range of nut butter cups.

The sweet snacks are made in the UK and features Pip & Nut’s nut butter, wrapped in ethically sourced, single-origin Colombian chocolate. Available in three variants – Milk, Dark Chocolate Peanut Butter Cups and Dark Almond Butter Cups – the range has secured listings with Boots, Ocado and Wholefoods, with a further roll out to follow.

“Pip & Nut has grown from a small entrepreneurial venture to a widely-recognised brand sold by leading retailers across the UK,”​ added Alex J Brown, relationship director, City of London Corporate Banking, HSBC UK.

“We’re delighted to be able to work alongside the company in its mission to expand by introducing new innovation and more extensive distribution, as well as support their continuing growth during a challenging time for businesses.”

Pip & Nut has won several awards, including the ‘Ones to Watch’ Award at The Sunday Times Fast Track 100 2018 and the fourth spot of Startups 100 2018. Additional wins include Consumer Business of the Year at The Amazon Growing Business Awards and Product Business of the Year at The Awards 2017. Murray has also been recognised as one of London’s Most Influential People in 2019 by the Evening Standard Progress 1000.

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