{"id":3419,"date":"2023-12-18T22:31:25","date_gmt":"2023-12-18T22:31:25","guid":{"rendered":"https:\/\/economicherald.net\/?p=3419"},"modified":"2023-12-18T22:31:25","modified_gmt":"2023-12-18T22:31:25","slug":"thrive-investment-is-making-popular-healthy-snack-maker-daily-food-a-player-on-a-bigger-scale","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3419","title":{"rendered":"Thrive investment is making popular healthy snack maker Daily Food \u2018a player on a bigger scale\u2019"},"content":{"rendered":"<p>Thrive Tribe (ASX:1TT) invests in companies in the health and wellness space<\/p>\n<p><strong>1TT\u2019s 51% stake in healthy snack maker Daily Food underpins ambitious growth strategy for 2024 <\/strong><\/p>\n<p><strong>Daily Food products sold in Woolworths, talks with other key retailers underway<\/strong><\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em><\/strong> <strong>\u00a0After Thrive Tribe Technologies increased its investment Daily Food is gearing up to work on its growth strategy in 2024 with equipment to increase capacity and talks underway for greater distribution. <\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>In September, <a href=\"https:\/\/stockhead.com.au\/company\/thrive-tribe-technologies-1tt\/\" target=\"_blank\" rel=\"noopener\"><strong>Thrive Tribe Technologies (ASX:1TT)<\/strong><\/a> increased its stake in local healthy snack maker Daily Food from 37.5% to 54% to become the majority stakeholder.<\/p>\n<p>Daily Food has become a central health food brand for 1TT,\u00a0 which invests in companies in the health and wellness space providing them with the \u201cresources, support, and technology they need to thrive and make a positive impact in the world\u201d.<\/p>\n<p>In the past nine months, Daily Food has launched their Super Bites into Woolworths Metro stores and WHSmith stores on the East Coast, secured partnerships with Better Foods \/ The Forage Company, and executed distribution across independent stores in VIC, NSW, ACT and QLD.<\/p>\n<p>With upcoming range reviews for the major grocery chains, Daily Food is looking to secure new, national contracts stores across the country in 2024.<\/p>\n<p>Daily Food founder Alexandra Thursfield says the 1TT deal has enabled Daily Food to purchase equipment to increase production capabilities at its Byron Bay manufacturing facilities to more than 2 million Super Bites health bars annually.<\/p>\n<p>\u201cIt\u2019s very hard for a food manufacturer to exist on the micro scale so we had to invest in equipment and manufacturing processes that will enable us to get into the big retailers,\u201d she says.<\/p>\n<p>\u201cSince partnering with Thrive Tribe we\u2019ve really been able to step up a level and be a player on a bigger scale.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Building a healthy brand following<\/strong><\/h2>\n<p>With a background in biomedical science Thursfield established Byron Bay-based Daily Food in 2018.<\/p>\n<p>Well-known for its beaches and famous residents, the Byron Bay region is also a growing hub for quality food produce and production.<\/p>\n<p>Thursfield saw an opportunity in the healthy snack sector to create a fun and energetic brand, which built up a loyal following, especially on social media using influencer marketing.<\/p>\n<p>\u201cIn the healthier food sector, brands a few years ago seemed to be duller and more lifeless so I was prompted to build a community around our\u00a0 brand where we educate and empower customers to make healthier choices,\u201d she says.<\/p>\n<p>\u201cMy big passion is the way is establishing a brand to really connect with customers to build a strong business.\u201d<\/p>\n<p>Thursfield says brand success these days with discerning customers is more than \u201cpretty packaging a few good taglines\u201d.<\/p>\n<p>\u201cWe\u2019re proud of our growth where there so many competing brands and it\u2019s such a noisy market,\u201d she says.<\/p>\n<p>\u201cOur brand has cut through and connected with long-term relationships with our customers.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>On Woolworths shelves with more product launches in 2024<\/strong><\/h2>\n<p>Daily Food\u2019s Super Bites health bars line is sold in Woolworths, \u00a0WH Smith stores and independent retailers.<\/p>\n<p>The company has recently launched its gluten-free, plant-based, chocolate-coated truffles called Holy Truff, including a bon bon set in time for Christmas.<\/p>\n<p>\u201cHoly Truff is the first of many new products we\u2019re planning to launch,\u201d Thursfield says.<\/p>\n<p>\u201cIn the first quarter of 2024, we will have two more product launches, so we are going hard on developing new products.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Presence in corporate and gifting market<\/strong><\/h2>\n<p>As well as the traditional retail market, Thursfield says it\u2019s also establishing a presence in the corporate and gifting market, offering diversification in a tough economic climate.<\/p>\n<p>\u201cA lot of food producers are down at the moment because of the economic conditions, and we are looking at ways at which we can capitalise on different opportunities,\u201d she says.<\/p>\n<p>\u201cThe brand has a really aesthetic and sustainability appeal, and we\u2019ve found a lot of corporates are quite immune to the economic struggles in the retail space.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Talks to broaden nationwide presence <\/strong><\/h2>\n<p>Daily Foods is actively engaged in broadening its reach through increased collaborations with grocery and retail entities.<\/p>\n<p>Thursfield says it is currently in talks setting the stage for potential new nationwide contracts across various stores throughout Australia in 2024.<\/p>\n<p><em>This article was developed in collaboration with Thrive Tribe Technologies, a Stockhead advertiser at the time of publishing. <\/em><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/food-agriculture\/thrive-investment-is-making-popular-healthy-snack-maker-daily-food-a-player-on-a-bigger-scale\/\">Thrive investment is making popular healthy snack maker Daily Food \u2018a player on a bigger scale\u2019<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Thrive Tribe (ASX:1TT) invests in companies in the health and wellness space 1TT\u2019s 51% stake in healthy snack maker Daily Food underpins ambitious growth strategy <a href=\"https:\/\/economicherald.net\/?p=3419\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3420,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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