Golden future ahead for Delicious Alchemy
Pictured (left to right): Grahame Lunt from SYIF with Joanna Ellis, Business Link Yorkshire, David Rowley, assistant manager at Mount Pleasant and Emma Killilea of Delicious Alchemy.
A fast-growing Sheffield food company is set to take a bite out of the retail market after a cash injection means they can expand their business nationwide.
Delicious Alchemy based at Framlington Road, Norfolk Park, produces gluten and lactose free products for restaurants, hotels and caterers throughout the UK.
The company is now launching plans to develop food lines for national supermarkets after receiving £15,000 from South Yorkshire Investment Fund.
Emma Killilea, Managing Director of Delicious Alchemy, said: "As a business we have enjoyed a lot of success and expansion in a very short space of time. We are one of the leading suppliers of lactose and gluten free foods in the country after only forming in December 2006.
"We already have one product in Sainsbury's stores but we are looking at launching a new product by the end of October that will be supplied to a wide range of stores and chains.
"SYIF's investment is a vital cash injection that will be used for a range of working capital to launch the new products, including packaging costs and purchasing stock.
"It is important we keep the cash flow ticking over. We are the market leaders, but there are rival companies who also have good products. This expansion into supermarkets, while maintaining our success in restaurants and hotels, is a fantastic opportunity for us."
Emma founded Delicious Alchemy at the end of 2006 after discovering she had wheat intolerance. She came up with the idea for a company which would cater for people on restricted diets.
Emma studied food science and marketing at Sheffield Hallam University before founding the business soon after and recently became a board member of Creative Sheffield. She said: "The last 18 months have been fantastic. I believe we have a range of products and a service that sets us apart from the rest. We have received several industry awards for our food and the future is certainly bright."
Delicious Alchemy was introduced to SYIF by Alan Scott and Joanna Ellis from Business Link Yorkshire, while the company also received a loan of £15,000 from Nat West.
Grahame Lunt, SYIF's Investment Manager, said: "Delicious Alchemy is a business that Emma started from scratch a little over 18 months ago. Since then the company has established it's self within the market place and their products are very well received.
"These are exciting times for the business as they look to consolidate their position in the suppliers market whilst also looking at developing products to sell direct to the consumer through some of the country's biggest retailers."
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).