For Goodness Shakes founder Stuart Jeffreys has given up a minority stake in the business to entrepreneur-focused venture capital fund Sussex Place Ventures, which has led a £1.5m investment for the sports drink producer.
The company, which was founded in 2004, is best known for its For Goodness Shakes sport drink. The milk-based product is distributed through most supermarkets as well as specialist sports and leisure outlets.
The company generated turnover of £5m in 2007.
“For Goodness Shakes is one of Britain’s fastest-growing sports brands and is the number one in ready-to-drink sports recovery,” says founder Stuart Jeffreys.
“This investment will be used to accelerate our growth through increased spend on above the line advertising. We’ll be reaching 70 per cent of our male audience with our unique message.”
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