SCOTLAND’S first social enterprise supermarket has secured £850,000 in funding to support ambitious growth plans as it looks to capitalise on increased demand for local, organic and zero waste food and goods.
Glasgow-based Locavore aims to build a more sustainable local food system which is better for the local economy, the environment and its surrounding communities.
Since opening in 2011, the social enterprise has opened three shops, developed market gardens, established a veg box scheme and got lots of people more engaged in thinking about issues around food, where it comes from, and the fairness and sustainability of mainstream supply chains.
READ MORE: Veg box market booms by 3000 per cent as Scots source locally-grown produce
During a typical month, Locavore serves 15,000 customers in its shops and delivers 7000 veg boxes across central Scotland.
With a turnover of around £4.3 million, it now employs almost 90 people.
The £850,000 funding package includes a mix of loan and grant funding from Social Investment Scotland (SIS).
This new investment will help Locavore achieve its ambitious plans over the next two years to build a network of 10 shops, increase its capacity to deliver 22,500 veg boxes per month, and build the infrastructure required to make this work in an efficient and sustainable way, with a commitment to becoming a carbon negative business.
Successfully delivering this plan will see the social enterprise increase its headcount to 180, creating 90 new jobs in the process, and increasing its turnover to around £10m.
Reuben Chesters, managing director of Locavore, commented: “This latest investment from SIS will help Locavore achieve its ambitions of becoming a leader on many new fronts, putting us in a position from where we can easily scale further and faster than we have ever done before.
“Within Scotland we’ll be one of the biggest retailers, wholesalers and veg box schemes of our kind with an important position to play in development of the organic market. We’ll also be a model for how to do business properly, a leading social enterprise and a more prominent and influential voice calling for a fairer and more sustainable society.”
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