John Conroy’s Redesdale takes first bite out of grocery fund

Former Merrion Capital boss John Conroy’s Redesdale Food Fund (RFF) has announced its first investment in Soothing Solutions Limited, based in Co Louth.

The holding company has developed a honey-based dissolvable fruit gum to provide relief for children with sore throats, which is expected to be on the market and available in pharmacies in the coming weeks.

Redesdale’s investment is believed to be close to 40 percent, valuing Soothing Solutions at more than €2.5 million

Founded in 2017 by Sinéad Crowther, Soothing Solutions has gone through the Bord Bia/Enterprise Ireland/Teagasc Foodworks scheme.

Redesdale has raised a €27 million fund to make investments in high-profile food startups from a group of high-profile businessmen and companies including former Unilever CEO Niall FitzGerald, former Kerry Group CEO, Stan McCarthy, Coca Cola and Musgrave Group as and Enterprise Ireland.

Soothing Solutions is the first company backed by Redesdale and the investment is also being backed individually by Redesdale investors Seán O’Driscoll, Simon Cummins and Niall FitzGerald.

Former GAA General Manager Páraic Duffy will become Chairman of Soothing Solutions following the transaction.

Michael Cantwell, Partner at RFF, said the fund was “extremely impressed with the vision, ambition and determination within the company and with the progress already being made along the way.”

Sinéad Crowther, CEO of Soothing Solutions, said she believes Redesdale can make a significant contribution to helping her company reach its potential.

https://www.independent.ie/business/irish/john-conroys-redesdale-takes-first-bite-out-of-food-fund-41413777.html John Conroy’s Redesdale takes first bite out of grocery fund

Fry Electronics Team

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