RSM advises on Parsley Box IPO

RSM’s Capital Markets team advised on Parsley Box Group plc, a direct to consumer provider of long-life ready meals, on its £83.8m initial public offering (IPO), the second IPO in a week for the RSM Capital Markets team after the Admission to AIM of ActiveOps plc on Monday.

Parsley Box Group plc, which admits to AIM today, has raised £5 million for the Company and £12 million for selling shareholders, with an initial market capitalisation of £83.8 million.

Parsley Box delivers ready meals, that do not need to be stored in a fridge or freezer, direct to older consumers, aged 60 and over. It aims to promote, support and celebrate independent living by making mealtimes easier and more enjoyable for everyone.

Based in Edinburgh, Parsley Box was founded in March 2017 by husband-and-wife team Gordon and Adrienne MacAulay following the couple’s discovery of limited options for delivery of ready meals for Gordon’s mother. Since then, Parsley Box has grown to offer a ‘one stop shop’ for its target market when it comes to mealtimes; providing a growing range of quick and simple ambient ready meals which require no refrigeration and have a shelf life of up to six months.

The Capital Markets team was led by Diane Craig with the core transaction team including Matt Cowie and Ed O’Brien, with tax advice led by Ross Stupart.

Diane Craig, Head of Capital Markets at RSM said: ‘Parsley Box is an ambitious Scottish business with a core purpose to support independent healthy living as consumers get older. This is a real milestone for the Company and we are delighted to have acted on this transaction which will help support its next stage of growth. 

‘This is the second Scottish IPO we have acted on in the past 12 months which demonstrates the market is open to quality opportunities and innovative Scottish businesses with the right business model are a viable and attractive option.’