Locavore, Scotland’s first social enterprise supermarket, secured a £850,000 loan from SIS to support it through an impressive growth period and meet the surge in demand for ethical food.
Founded in Glasgow, Locavore has been providing a wide range of locally sourced and organic groceries since 2011. The social enterprise aims to build a more sustainable local food system which is better for the local economy, the environment and its surrounding communities.
Locavore’s achievements to date have been impressive, having opened three shops in Glasgow, developed market gardens, established a veg box scheme and engaged many people in the movement to a more sustainable food supply.
Locavore, a returning customer of SIS, secured a funding package of £850,000 to support a number of ambitious plans over the next few years. Consisting of both loan and grant funding, this investment will help Locavore scale its activities in the short term by enabling it to open three more shops, buy a small area of land and set up its veg box warehouse.
This is a positive step forward as the enterprise plans a further seven shops, a new warehouse facility that will act as a regional distribution hub, and increased capacity to deliver 22,500 veg boxes per month. Locavore will build the infrastructure required to make this possible in a sustainable way.
Successfully delivering on this overall plan will see the social enterprise increase its headcount to 180 people, resulting in 90 new jobs created, as well as increase its turnover to around £10 million. The investment will also support Locavore’s commitment to becoming a carbon negative business.
Having supported Locavore for several years and having witnessed its success, SIS is delighted to continue building its relationship with Scotland’s leading social retailer. Locavore has proven that a social enterprise model can run successfully while also being ethical and delivering significant social and environmental impact.
“This latest investment from SIS will help Locavore towards 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 the 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.”
Reuben Chesters, Managing Director, Locavore
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