Edinburgh-based Parsley Box, the “direct to consumer provider of ready meals focussed on the underserved Baby Boomer+ consumer” has announced its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange.
“Parsley Box has grown rapidly since inception and delivers c.900k products per month to its loyal and growing Baby Boomer+ consumers, broadly defined as those aged 60 years and over,” said the company in a stock exchange statement.
“Parsley Box provides ambient ready meals, which are not required to be stored in a fridge or freezer, have a shelf life of up to six months and are cooked in minutes.”
Parsley Box was founded in March 2017 by husband-and-wife team Gordon and Adrienne MacAulay following the couple’s discovery of limited options for delivery of ready meals for Gordon’s mother.
Admission to AIM is expected to occur in late March or early April.
Parsley Box CEO Kevin Dorren said: “Announcing our intention to list on AIM to enable our loyal customers to become shareholders marks an important milestone for Parsley Box.
“Our fast growth trajectory clearly demonstrates the market opportunity from the Baby Boomer+ consumer for the convenience of our high quality, affordable, quick and delicious ready meals delivered to their door.
“We see ourselves as a challenger brand that is redefining the category and have only just begun to satisfy the demand of this underserved demographic, with a clear strategy to continue this growth.
“We also believe we have a first mover advantage through already having over 500k registered users.
“An IPO provides us with an attractive platform to realise our growth ambition, whilst also enabling our loyal customers and valued employees to share in our future success.
“We are proud of our track record to date, excited about the next phase in Parsley Box’s development and the opportunity to deliver significant value for all of our shareholders.”
Three new non-executive directors — Chris Britton, Hazel Cameron and Ana Stewar — will be appointed ahead of the IPO.
Parsley Box chairman Chris van der Kuyl said: “We’re entering an exciting new growth phase and have ambitious plans to build a brand that caters for the needs of the original rule breaker generation; baby boomers feel decades younger than their parents did when they retired and they’re looking for convenience, freeing up time to live life to the fullest.”