Administrators seek to save No1 Botanicals as Covid effect lingers on trade | New

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Premium soft drink supplier No1 Botanicals has fallen into administration following the Covid-induced collapse in out-of-home consumption.

The extreme disruption facing the global hospitality industry has caused “financial difficulties” which saw Clare Lloyd and Henry Shinners of Evelyn Partners appointed co-directors of the company on October 25.

The directors are currently marketing the business, as Rosemary Water Ltd, and the assets (including intellectual property) for sale, in a bid to salvage the brand.

“The brand and products have seen very significant investment over the past three to four years and we expect there to be a lot of interest from parties who see an opportunity to build on this,” Evelyn Partners said.

“Any interested party should contact our office for further information.”

The London brand was launched in 2017 and counted Hollywood star Henry Cavill, who starred in a marketing campaign, and Take That’s Howard Donald among its shareholders, as it increased its distribution in Europe and the United States.

The brand also raised £1.2m from 569 investors via a Crowdcube crowdfunding campaign in 2019, valuing the business at over £25m.

The crowdfunding round was an “add-on” investment to a £4m fundraise with existing investors also completed in 2019.

The company, founded by David Spencer-Percival, appointed grocery veteran Sally Taylor as CEO in August 2020 to lead its Covid recovery, but she left in November last year.

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