Noble takes stake in Plum Baby

Noble Fund Managers Private Equity has led a £2m development capital funding round for Plum Baby Ltd, an organic baby food business. The investment represents the first institutional funding for the company and sees Noble take a significant minority stake in the company. Noble's commitment is to be followed by an additional £400,000 provided by Octopus Ventures. The new capital will be used for new product development and for repayment of debt.

Noble was attracted to Plum Baby's strong brand, excellent distribution networks and driven team. Since it was founded in 2004, the company has penetrated the major UK retailers and established Plum Baby as a pre-eminent baby food brand. In 2007 it expects to achieve sales of £5m. (Page 30).

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