Londoners’ “unstoppable” march towards healthy eating has helped upmarket grocer Planet Organic’s sales to surge, showing why it could be tasty to investors.
The retailer, which last year hired corporate finance firm Spayne Lindsay to advise on a potential £50 million sale, notched up 9% revenue growth to £30.7 million in the year to August.
The chain was founded in 1995 by entrepreneur Renée Elliott, inspired by food stores in her native Boston, Massachusetts.
Its revenues have been boosted by strong demand for niche health foods including plant-based protein balls, dairy-free yoghurts, and charcoal lattes in its cafes.
It is understood the retailer is seeking fresh finance to help it expand. It has seven London branches, including in Muswell Hill, Islington and Tottenham Court Road.
Pre-tax losses narrowed to £323,171, and buying director Al Overton said it should be in the black this financial year.
He said: “There are unstoppable trends towards healthier eating.”