Case study

Pip & Nut

Published: 18 September 2026 Updated: 17 September 2026

Topics

Pip & Nut was built from a challenger SME into the UK’s number one nut butter brand through disciplined growth, category innovation and purpose-led leadership, while expanding successfully into snacking and significantly increasing national household penetration.

Competing against multinational FMCG brands while remaining capital efficient, scaling responsibly through inflationary pressures, they maintained ingredient standards and successfully entered competitive snacking categories.

Delivering a 50% year-on-year business growth, reaching £37.5m retail sales value. This achieved profitability, expanding into 40,000+ outlets, reaching two million households and became the UK’s leading nut butter brand. Led by founder and CEO Pip Murray, alongside a growing leadership team and highly engaged employees supported through inclusive policies, employee equity and a strong purpose-led company culture.

Continued investment in innovation, national marketing, snacking expansion, sustainability initiatives and international growth will support Pip & Nut’s long-term ambition to become a major multi-category healthy snacking brand.

Judges' Comment

“Pip & Nut Organic nut-based butters challenge the usual leaders with their recipes and focus on production and operations outsourced. Based on founder Pip Murray’s ethics to ensure inclusion, they offer several benefits including; employee shares, education of SMEs, 10% profits of which, are donated to charity. This is a clear story of success in outperforming the brand leaders based on company values.”

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