Shaken Udder mixes fresh milk with ingredients to create a variety of flavors, from its signature “Chocolush!” with strawberries and clotted cream, which are now stocked at retailers including Sainsbury’s, Tesco, Waitrose, Morrisons, ASDA, Co-op and Boots.
The business has grown through the development of new products, including a 750ml shareable bottle and a plant-based dairy-free alternative range, Shaken Other.
Shaken Udder was founded in 2004 by Jodie and Andrew Howie, who met in college. They spotted a gap in the market for fresh milkshakes at music festivals. The couple then spent their summers selling the Shaken Udder range in a trailer like Glastonbury and Bestival before moving into retail in 2008 with Harvey Nichols and Selfridges.
The business, which makes over £20m a year and has doubled in size in the past two years, uses fully recyclable PET bottles and electricity generated by solar panels to supply the company’s offices.
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LDC’s investment will help Shaken Udder’s management team – which will continue to be led by Jodie and Andrew Howie – to further expand the company’s customer base, including in convenience stores, and continue to develop new products. It will also fund a greater focus on brand marketing and exploration of international expansion through overseas distributors.
As part of the investment, food and beverage entrepreneur James Lambert OBE, founder of global ice cream maker R&R Ice Cream and former chairman of Burton’s Biscuit Company before its sale to Ferrero Rocher, joins Shaken’s board of directors. Udder as non-executive chairman.
The investment was led by David Bains, Partner and Head of East Midlands and East England at LDC, and LDC Chief Investment Officer Mark Howden, who will both join the board of administration.
Jodie Howie, co-founder of Shaken Udder, said: “Shaken Udder was born out of our shared passion for music festivals, the great outdoors and milkshakes, and we’ve loved every minute of the journey so far. But there is still so much more to come. The LDC team has taken the time to familiarize themselves with our business, and we are truly looking forward to embarking on the next stage of our growth journey with their support. »
Andrew Howie, co-founder of Shaken Udder, added: “Jodie and I are very lucky as we love going to work every day. We’re so proud and passionate about the brand we’ve created, and there’s so much potential yet to be realized. We can’t wait for our next chapter with the support of LDC, with James on board and with exciting and ambitious projects ahead.
David Bains, Partner and Head of East Midlands and East England at LDC, said: “The success of Jodie, Andrew and the team to date shows what can be achieved when you combine a great idea with creativity, passion and hard work, plus delicious ingredients.We are proud to support another fantastic East of England management team and look forward to supporting them as they invest further in their product range and are getting stronger and stronger.
LDC has a long history of supporting the growth journeys of consumer brands, including supporting the growth ambitions of premium, founder-led brands such as beverage mixer producer Fever-Tree and lifestyle brand Joules.
Shaken Udder was advised by PwC (corporate finance and financial due diligence) and Birketts (legal).
LDC was advised by Grant Thornton (corporate finance and financial due diligence), Freeths (legal) and CIL (commercial due diligence).