Mar 20, 2023

Grind completes £15m investment round and acquires Dragon’s Den alumni Botteshot Coffee. The investment round, which values Grind at £70m, is led by existing Grind investor  Richard Koch , who also led a £22m investment round into Grind into 2021. The new capital will be used to accelerate growth in the direct to consumer coffee business, to acquire Bottleshot coffee, and add further Grind high street coffee shops. The Bottleshot team will join Grind to lead its push into grocery and the ready-to-drink coffee space. The Bottleshot brand will wind down and be replaced with Grind cans. 5th March 2023, LONDON: Cult London coffee brand,  Grind , this morning announces a  £15m investment round to continue to grow its at-home coffee products and that it has completed the acquisition of ready-to-drink coffee company, Bottleshot Coffee. Bottleshot Coffee was founded by Annie Mitchell and Charlotte Dales in 2019. It is the first and only canned coffee to win a Great Taste award and it can be found in retailers like Wholefoods, Ocado and WH Smith, and on Virgin Airlines. In 2022 the business was featured on Dragon’s Den, where they received an investment offer from Dragon Peter Jones. As part of the acquisition, Bottleshot’s Annie Mitchell and Leonora Berend will join Grind to lead its push into the ready-to-drink coffee space, and into grocery and supermarkets for canned coffee, coffee pods and bean and ground coffee. David Abrahamovitch, Grind’s Founder & CEO commented:  “Grind had a fantastic 2022, and it’s great to start 2023 with a bang, announcing another major funding round and the acquisition of Bottleshot Coffee. For a while, I’ve believed that the ready-to-drink coffee market is quite under-developed in the UK, particularly compared to the US, and there still isn’t anyone with a real coffee pedigree making a canned coffee product using speciality-grade coffee which actually tastes like real coffee, in part because it can be technically quite difficult to get right. I’ve known Annie for a while, she’s a fantastic entrepreneur and along with her team she’s built a great product and supply chain capable of delivering tens of millions of cans per year, and has already signed up some great customers. We think we can take these foundations and supercharge them with the addition of the Grind brand, and of course, by adding Grind coffee to the new cans we think they’ll taste even better! I’m really excited for Annie and her team to join Grind and lead this new charge.” Annie Mitchell, Founder of Bottleshot and now Head of Grocery & B2B at Grind added:  “We are thrilled to be joining the Grind team. We’ve watched with admiration as Grind has applied its coffee expertise and brand to the Nespresso® pod sector, creating the pod challenger brand in the category. As Grind has done with pods, at Bottleshot, we’ve spent the last few years building a best-in-class product and supply chain. We believe that by adding this to the well-loved and well-known Grind brand, and with the support of the Grind roastery and the wider Grind business we think we can achieve our goal much faster to achieve the same in the ready-to-drink coffee space - turning Grind cans into the leading challenger brand in a sector which is dominated by mass market and low-quality products.”