Diet Chef wins Piper Private Equity backing boost of £3m

PRIVATE equity backers have served up a £3 million cash injection for Diet Chef, an Edinburgh-based business that delivers nutritionally balanced ready meals.

Piper Private Equity – which led a capital investment in clothing catalogue Boden and pumped money into restaurant chains Pitcher & Piano and Tootsies – said the funding will fuel Diet Chef's growth plans.

Kevin Dorren founded the company in 2007 and turned over 5m last year. Its ambitious business plan calls for sales to double year-on-year.

Meals that contain no additives or preservatives are prepared by chefs and then delivered direct to the firm's customers.

Piper's Peter Kemp-Welch said: "We have been keen to invest in the weight-loss market for some time and worked hard to seek out a brand and business we felt confident could be grown quickly and profitably. As a result, we approached Diet Chef.

"We very much look forward to working with the Diet Chef team to create a distinctive and special brand that can help its customers change their lives."

Piper has previously invested in hot dog supplier Rollover and Sofa Workshop.