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Food & Drink
UK - East
Date Rated:
Valuation (Pre Money):
Industry: Food & Drink
Location: UK - East
Platform: Crowdcube
£300,000 Expansion
Valuation: £3,550,296
Date Rated: 06/12/17



Tax Status: EIS

Business Summary

Capsicana is a food company producing a range of chilli condiment sauces inspired by Latin American cuisine aiming to offer truly differentiated products by using ingredients from the region in their recipes. Capsicana has sold 235K packs across two years since they launched in Waitrose. This round of investment will be used to fund marketing and to launch ten new products in 2018.

Financial Overview




There is insufficient information available to provide a financial overview



The team has demonstrated their expertise in their respective roles. They are supported by a sales consultancy company and the Founder has engaged an export manager to support international expansion.
The Founder has experience in business development, the Operations Director has been successful in the same industry and they will be supported by an engaged advisory board.
Most members of the team are full time and have invested significant time into the business and the advisory board seems also strongly committed to the company.
The condiments and seasoning market is worth £2bn in the UK but the company's addressable market is worth only £379m currently, although planned expansion will grow this substantially.
Capsicana's offering is already sold in 738 stores across the UK and the development of ten new sauces could provide material upside in the short term.
Competitive analysis has not been provided in the pitch: there are established players leading the market but the company aims to compete with a wider and differentiated offering.
There is insufficient information available to fairly rate this aspect of the business


The team has proven the concept and has achieved great listings with major players to support the intended growth in the UK. Although established players could easily replicate the company's offering, the team is now developing a wider range of sauces to increase visibility rapidly in the market and be more appealing to potential customers. If these gain a strong following larger food players could well be tempted to buy rather than build.

The team has ambitions to expand the business internationally so further funds could be needed to provide the business with the required working capital to do this. Therefore investors should note that a minimum investment of £5k is required to secure pre-emption rights.

Note: We have not received a business plan from Capsicana and therefore this rating is based on the information available within the Crowdcube pitch.

Related Links

Crowdcube Pitch


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