PORTFOLIO / Promise GLUTEN FREE

Backing world-class innovation to build a global gluten-free brand.

Sector
Consumer

HQ

Donegal, Ireland

Geographic footprint

Europe, North America 

Sales

€60 million

Employees

350

Investment date
July 2017

Status

Current

The company

Building on decades of baking experience, Promise Gluten Free was launched in 2011 with a clear vision to create gluten-free baked goods that combine great taste, texture and genuine nutritional value in a category where this is hard to achieve.

Number of acquisitions since Mayfair’s investment

3

New markets entered

US, UK and Canada

The investment

As increasingly health-conscious consumers seek out “free from” products, the gluten-free bakery category has grown rapidly. With many gluten free baked goods underperforming in taste and texture, Promise Gluten Free’s unique baking process and innovative product range underpinned Mayfair’s decision to invest in the business in July 2017 to help drive the internationalisation of the company with a focus on North America.

Our partnership

Mayfair has supported the business in several areas including:

  • Leveraging Mayfair’s network to source world-class talent to complement the capabilities of the founding team.

  • Supporting growth in the UK, the US and Canada, including recruiting new in-market teams.

  • Backing the acquisitions of two well-established American bakery brands, Rudi’s Bakery in Colorado and Three Bakers in to accelerate Promise’s growth in North America.

  • Supporting the business in the post-merger integration of supply chains, IT systems and production facilities, while identifying and realising significant cost-savings in ingredient procurement and freight transportation.

“Mayfair were passionate about our business from the first time we met. Within 48 hours of our first discussion, the team visited us in Donegal, and it was obvious they loved our products and saw the same opportunity that we did. Since we partnered with Mayfair, the business has grown and expanded at pace, including international acquisitions which delivers of helping us to achieve our ambition to become a global better-for-you brand.”

Declan Gallagher, Founder of Promise Gluten Free