The Better Food Company
The Better Food Company Limited (Better Food) is an award-winning Bristol-based independent retailer of organic, local and ethical goods. It strives to build a better, fairer food community for everyone.
Established almost 30 years ago as an organic delivery service, Better Food has since evolved into a leading organic retailer, operating three profitable sites in Bristol – the original shop and café in St Werburghs, the food hall in Clifton and the most recent addition at Wapping Wharf, part of Bristol’s historic harbourside. The Wapping Wharf store was opened using proceeds from a bond promoted by Triodos Bank in 2016.
Better Food aspires to offer the best produce; balancing the needs of the farmer and soil with the needs of the customer. Better Food’s success to date has been built based around a balanced focus on purpose, people and profits.
Better Food is seeking to raise £800,000 through this offer to fund the opening of two new retail stores in order to expand its Bristol presence and service the growing consumer demand for high-quality, organic and responsibly sourced produce.
Better Food bonds are eligible to be held in a Triodos Innovative Finance ISA (IFISA). The IFISA is a type of ISA that allows you to hold crowdfunded debt securities such as this bond. As with all ISAs, there are eligibility criteria and you receive interest tax-free. ISA eligibility does not guarantee returns or protect consumers from losing their money.
To invest in Better Food’s bonds through a Triodos IFISA, select the ‘Invest through IFISA’ option. This selection will add to your current year IFISA or will open a new IFISA if you haven’t previously opened one.
If you want to invest by transferring an existing ISA to a Triodos IFISA you must first request the transfer. You can do this under ‘Account’ once you’ve become a registered user of the platform. Your ISA transfer must be completed first, before you make an application for bonds.
The Better Food Company Limited (Better Food)
7 years, repayment due on 30 June 2028
5% gross per year payable 30 June each year (paid net of UK basic rate tax unless held in an IFISA) with the first payment on 30 June 2022.
Payment of interest and repayment of capital are not guaranteed.
Better Food has the right to repay the bonds in part or in full with effect from 30 June 2022.
The bonds are unsecured so bondholders will rank equally with Better Food’s other unsecured creditors and behind secured and preferential creditors on insolvency.
Bonds are transferable but are not listed on any investment exchange which means that bondholders will have to find a willing buyer and agree a purchase price with them, which in practice may not be easy.
Investors should be prepared to hold the bonds for their full 7-year term.
Better Food can only take on additional debt if the final repayment date is beyond 30 June 2028.
Investors will be entitled to a 10% store discount card subject to a minimum investment of £1,000.
£400,000. If less than £400,000 is raised, monies will be returned to investors with no accrued interest.
Closes on 30 April 2021, unless fully subscribed earlier or offer is extended. Bonds are allotted 15 days after close and investors start to accrue interest from that date.
Past performance is not an indication of future performance. Capital is at risk and returns are not guaranteed. Investors should read the offer document in full, including the risks section, before deciding whether to invest.
Download the offer document by logging in or registering.
5% per year