Last checked at 30 Apr 2018 07:00
Strictly embargoed until: 07.00 a.m. on 30 April 2018
Draper Esprit plc
("Draper Esprit", the "Company" or the "Group")
DRAPER ESPRIT ANNOUNCES THE SALE OF ITS STAKE IN PORTFOLIO COMPANY
TAILS.COM TO PURINA PETCARE.
Draper Esprit (AIM: GROW, ESM: GRW), a leading venture capital firm investing in high growth European digital technology businesses announces the sale of portfolio company Tails.com, the direct-to-consumer, tailor-made dog nutrition business to Purina Petcare, a subsidiary of Nestlé SA.
Draper Esprit has a long history with Tails.com, having backed its founder, serial entrepreneur, Graham Bosher, first at Lovefilm and then at Graze. The transaction has been executed at a value supportive of the NAV as at 31 March and represents an attractive return for Draper Esprit.
Based in Richmond, West London, Tails.com provides personalised dog food and nutrition support at affordable prices, with a direct‐to‐consumer model that has demonstrated strong growth since launch in 2014. Tails.com uses a proprietary technology platform and manufacturing set up to provide individually customised recipes and best in class service to delivery.
In the last twelve months, the Group has announced 5 disposals, including the recent announcement by Oracle of their intent to buy Grapeshot, a Draper Esprit EIS investment, and the sale of Clavis Insight to Ascential plc in December 2017.
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For further information, please contact:
Draper Esprit plc Simon Cook (Chief Executive Officer) Ben Wilkinson (Chief Financial Officer)
| +44 (0)20 7931 8800
|
Numis Securities Nominated Adviser & Joint Broker Richard Thomas Jamie Loughborough
| +44 (0)20 7260 1000 |
Goodbody Stockbrokers ESM Adviser & Joint Broker Don Harrington Charlotte Craigie Linda Hickey Richard Tunney
| +353 1 667 0420 +44 (0)203 8416202 |
MHP Communications James White Vera Prokhorenko Peter Lambie | +44 (0)20 3128 8100 |
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in Europe, developing and investing in disruptive, high growth technology companies. We believe the best entrepreneurs in Europe are capable of building the global businesses of the future. We fuel their growth with long- term capital, access to international networks and decades of experience building businesses. Currently Draper Esprit is a shareholder in a diverse portfolio of companies including Trustpilot, Graze, Perkbox, PushDoctor and Graphcore.
Visit www.draperesprit.com