As we anticipated when we reported on Gozney’s most recent financial filings, they received a new investment in their company. The investor that contributed the most is investment firm Growth Partner.
Over the last few years we’ve been on an amazing growth journey thanks to our pioneering product range that has redefined the category. As our growth continues to accelerate, Growth Partner’s investment will support us in unlocking the next phase of development allowing us to continue to push the boundaries of the sector with our innovative designs and build into a globally recognised brand.
Tom Gozney, founder of Gozney
Growth Partner is back by Richard Harpin, the founder HomeServe, a residential service contract provider founded in 1993. Growth Partner invests in fast growth consumer brands.
Tom has already been on an incredible journey and showcases the persistence and determination that I look for in all great entrepreneurs. I am excited to be partnering with Tom as I share my learnings of over 30 years of building HomeServe in the UK and internationally.
Richard Harpin, founder Growth Partner
Gozney, which was founded by Tom Gozney, started out as a direct-to-consumer (DTC) brand, but has since forged wholesale relationships with retailers like Home Depot. Tom Gozney has also changed roles within the company and brought on former Traeger executive Denny Bruce.
With the help of their new investment, they’re looking to continue to expand their business with new cooking products and consumables. Having a well-rounded portfolio of products is something that has helped other outdoor cooking brands minimize the effects of the overall market slowdown as it returns to growth.
The outdoor cooking market is expected to grow at 5% per annum, as consumers continue to invest in outdoor living. In Gozney, Tom has created a premium brand that reconnects families and friends over the joy of cooking outdoors. We’re excited by the to be partnering with Tom and Denny as Gozney continues to disrupt the outdoor cooking market both in the UK and overseas.
James Worrall, Partner at Growth Partner
According to Companies House filings, Gozney created a new class of shares for this investment round. It would appear that the round was for about 6.5 million GBP ($8.3 million), with Growth Partner accounting for about 77% percent of the round. This would ignore any related party investors.
The successful investment round is a testament to the growth that Gozney has had and the results they’ve continued to deliver in a challenging environment. It’s difficult to raise new funds in a sector that has been severely depressed for over two years.
The pizza oven market, especially at the lower price points, is becoming more saturated. Gozney’s design focus has been their biggest differentiator.
The Dome pizza oven is a unique product on that market that other companies haven’t been able to match. Most recently Gozney released the smaller Arc pizza oven which sold over 10,000 units at launch leading Gozney to their biggest sales month.