Steven Bartlett’s first Dragons’ Den investment rescued after administration collapse
The first company that Steven Bartlett invested in when he joined hit BBC One show Dragons’ Den has been rescued after collapsing into administration.
Artisan cheese retailer Cheesegeek has been snapped up by Scotland-based Albex Group for an undisclosed sum.
The news, which was first reported by The Grocer, comes after Steven Bartlett bought a five per cent stake in the London company for £150,000 in 2021.
The investment was featured in the businessman’s first series on Dragons’ Den which aired at the start of 2022.
Steven Bartlett’s investment in Cheesegeek, which was founded by Edward Hancock, was conditional on his money being returned within two years.
Bartlett held 16,427 shares in the business, according to a document filed with Companies House, through his private equity firm, Catena Capital.
Albex director Andrew Dalglish said: “Cheesegeek’s mission to support local artisan cheesemakers and make great cheese accessible is an important one. We’re delighted to be able to support it.”
“As a family company we always take a long-term view and are committed to fully supporting Cheesegeek.
“Our funding gives them the stability needed to continue operating and more. It will allow them to achieve their full potential and do so in partnership with the artisans who bring much needed diversity and craftsmanship to the UK’s cheese industry.”
“From a day-to-day perspective it’s very much business as usual at Cheesegeek. The same team remain and continue to be led by founder Edward Hancock.
“They’ll continue to fulfil orders uninterrupted and provide great service. And they’ll continue to partner with a core group of artisan cheesemakers.
“In addition to that, we’ve already begun planning some major investments designed which will see Cheese Geek embark on some exciting new projects.”
The Albex Group previously acquired cheese cutter and packer Tom Walker & Sons in 2020.
Steven Bartlett and Cheesegeek have been contacted for comment.
Steven Bartlett steps down from Huel board
The collapse and rescue of Cheesegeek comes after City PM reported in February that Steven Bartlett had stepped down as a director of nutrition brand Huel.
The celebrity entrepreneur, who has been a long-time investor in the company, had held the role since early 2021.
Huel is headquartered in Hertfordshire and also counts the likes of Idris Elba and Jonathan Ross among its investors.
The departure came a day after Emma Woods, a former chief executive of Wagamama, also stepped down as a non-executive director.
In August 2024, adverts featuring Steven Bartlett for nutrition brands Zoe and Huel were banned after it was ruled they failed to disclose their commercial relationship with the celebrity entrepreneur.
The Advertising Standards Authority (ASA) said the adverts, which were seen on Facebook in February, “omitted material information” about their links to Bartlett.
At the time Bartlett, who made his fortune after co-founding Social Chain in Manchester, was an investor in Zoe and a director at Huel at the time.