Vegan chocolate business LoveRaw rescued by Bulgarian food group
Altrincham-based vegan chocolate brand LoveRaw has been rescued out of administration by a major Bulgarian food business.
LoveRaw founders Rimi and Manav Thapar
At its height LoveRaw sold through 13,000 retail outlets across 25 countries and was named in the Financial Times 1,000 fastest growing companies in Europe in 2023 and co-founders – husband and wife team Rimi and Manav Thapar – appeared on TV’s Dragon’s Den.
However, the company faced investment and supplier challenges which led to operational disruption and a rapid decline in revenues.
Jimmy Saunders and Mike Lennon of KR8 Advisory, Restructuring division of K3 Capital Group, were appointed Joint Administrators of LoveRaw Limited on April 16 2025. The brand and business assets were successfully sold to Bettr Food Limited, a subsidiary of the Smart Organic Group.
Founded in 2009 in Sofia, Bulgaria, Smart Organic has established itself as a pioneer in the organic food industry, offering a diverse portfolio of over 500 products. With a presence in over 60 countries, the company is renowned for its commitment to innovation, quality and sustainability. The company is listed on the Bulgarian Stock Exchange with a current market capitalisation over E150 million.
Jimmy Saunders, Managing Director at KR8 Advisory, said: “Whilst the vegan food space continues to be competitive, we expect the LoveRaw brand and products to be a great success with the investment and in-house manufacturing capabilities which the Smart Organic Group brings.”
Restructuring division of K3 Capital Group, a multi-disciplinary professional services firm with four divisions, including Business Sales, Tax & Transaction Services, and Technology Solutions.
