Founded in the late 2010s, the company grew out of the BBSRC’s Follow-on Fund with the goal of providing solutions to a specific challenge in the food production industry: acrylamide mitigation. Acrylamide is a known carcinogen that forms in certain foods during high-heat cooking processes. The company helps food producers and private individuals reduce acrylamide levels in their products, using innovative research into testing procedures and mitigation procedures.
The company’s three core services comprise acrylamide analysis, amino acid analysis and sugar analysis, using LC-MS, GC-MS, and HPAEC techniques, respectively. The company is also developing its own in-house high-performance liquid chromatography method for acrylamide analysis.
The company’s market leadership in acrylamide mitigation is reflected in its impressive client roster, having secured contracts with five major food producers, including bread and breakfast cereal companies, farmers, and crisp manufacturers.
The company turned over £53,007 in 2023, £81,958 in 2022, and £107,507 in 2021.
Investment highlights include:
A frontrunner in the UK acrylamide mitigation space, offering a comprehensive suite of testing and reduction solutions;
Contracts with five major food producers across bread, cereal, and crisps categories;
In-house expertise with a team of three full-time employees, supported by four additional ad-hoc staff where required;
A conducive regulatory environment with acrylamide minimization requirements imposed on food producers by the Commission Regulation (EU) 2017/2158.
Market opportunity
Acrylamide mitigation became a significant concern for food producers after the European Union adopted Commission Regulation (EU) 2017/2158 in 2018 which requires businesses to put in place measures to minimise acrylamide formation. It outlines practical steps based on Hazard Analysis and Critical Control Point (HACCP) principles for businesses producing high-risk products like French fries, crisps and bread.
EU regulation is expected to change again in 2024, imposing maximal levels, as well as adding more foods to the list of regulated food types.
The changing legislative landscape creates a significant market opportunity for the company’s expertise.
Acquisition rationale
The company’s expertise in acrylamide mitigation would complement a broader food safety portfolio or provide a valuable entry point into the regulatory compliance market
Highlights -
UK market leader in the acrylamide mitigation space;
Comprehensive service offering, offering bespoke consulting and data insights, catering to individual client needs;
Technological innovation expertise with the ongoing development of an in-house HPLC methods;
Impressive network of clients across the food industry, having secured contracts with five major food producers across the bread, cereal and crisp categories.
Opportunities -
A conducive regulatory environment:
Stricter acrylamide regulations in the EU (Regulation (EU) 2017/2158) and anticipated future changes with the introduction of maximal levels create a significant demand for the company’s expertise.
Service portfolio expansion:
The company’s existing capabilities would integrate seamlessly into a broader food product safety portfolio, with potential for additions such as ethylene oxide residue testing, nutritional analysis, vitamin analysis, trace metal analysis, toxins and allergens testing, and more.
Financial Profile
Turnover IRO - £53K in 2023.
100% share capital.
Interested parties will be required to sign an NDA.
