Entrepreneurial law firm Keystone Law has advised Snog Pure Frozen Yoghurt Limited (Snog) on a multi-million pound equity investment in Snog by Unilever Ventures Limited (Unilever Ventures). The investment will be used primarily to fund the expansion of Snog outlets in the UK and internationally.
Snog, founded in 2008 by Rob Baines and Pablo Uribe, is an exciting and progressive brand that sells fat free frozen yoghurt sweetened with agave nectar, rather than sugar. It is healthy, high quality and refreshing. Snog, voted one of Britain's Cool Brands of 2010/2011, prides itself on offering customers a vibrant and unique experience when they visit one of the atmospheric and beautifully designed Snog shops, where fashion meets food. Outlets are currently found in London, the Middle East, South America and Asia and Kate Middleton is reported to be a customer.
Snog's marketing uses humorous strap lines such as "Fancy a snog?", "You'll never forget your first snog" and "A right royal snog" to grab the public's attention.
Unilever Ventures is the venture capital arm of Unilever PLC. It invests in companies with unique and innovative products, brands and management teams to help them gain market access and grow more quickly. Unilever Ventures became interested in Snog because of the high quality and strong health attributes of the Snog product and the unique shop experience the brand offers.
Snog was advised by Nick Plummer and Robert Matthews, from Keystone's Corporate department, with assistance from Andrew Fishleigh of the Employment department
Unilever Ventures was advised by David Bates and Rosemary Hewitt of Mayer Brown LLP.
Rob Baines, CEO of Snog, said:
"We are delighted with the investment in Snog by Unilever Ventures. We look forward to being able to access Unilever's assets and capabilities to expand the footprint of the business and to reach more consumers. Nick and Rob at Keystone Law gave us timely and commercial advice, which helped us get the deal done as quickly as possible, with the minimum amount of fuss. Keystone's lawyers use technology to work flexibly and efficiently, which mirrors our own business model ."
Nick Plummer, who led the team at Keystone Law, said:
"We are very pleased to have advised Snog on this fantastic investment and collaboration with Unilever, which will really help Snog to accelerate its success story. Snog is a leader in its growing market place and we look forward to seeing this vibrant company become well-known around the world. Being part of a progressive law firm, it has been inspiring to work with such an entrepreneurial and brand-focused business as Snog."
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