Borough Broth, the fast-growing bone broth brand backed by Duncan Jones, has secured £7.5 million in new investment to support a major expansion, as demand for natural and minimally processed foods continues to soar.
The funding comes from Piper, the consumer-focused private equity firm known for backing brands such as Ancient + Brave and luxury candle maker Neom. The deal gives Piper a one-third stake, valuing Borough Broth at £19.5 million.
Founder Ros Heathcote, a former data analyst who launched the business a decade ago, retains just over 40 per cent, remaining the company’s largest shareholder. Jones, the film director and son of David Bowie, is understood to own around 6 per cent.
Heathcote said the capital will be used to build a 27,500 sq ft production facility close to its existing site in Greenford, west London. The company employs 50 staff and has doubled sales in the past year following new listings in Tesco and Sainsbury’s. Revenues are expected to hit £11.5 million this year.
With recruitment costs rising after last week’s Budget, Heathcote says the investment will also allow the company to introduce greater automation.
“We won’t have to aggressively recruit — we’ll make up the difference with automation,” she said. “We won’t be losing staff, but we don’t want to add a huge amount more.”
January is typically the brand’s busiest period as consumers turn to broths for winter cooking and healthier eating after the festive season. Current public concern around ultra-processed foods (UPFs) is also steering shoppers towards simpler, more natural ingredients, Heathcote said.
“The data shows people want to recognise the ingredients in a product and feel they could make it at home,” she said. “That has always been my rule — whatever we use has to be something you could use in your own kitchen. No shortcuts.”
Borough Broth uses around 20 tonnes of British-sourced bones each week to make its range of broths, stocks and cooking bases. The expansion will allow the company to scale production further as retailers push for more supply.
With Piper’s investment and rising consumer appetite for minimally processed, nutrient-rich foods, Borough Broth now aims to deepen its footprint in mainstream retail and expand into new channels.
