Cheesemaker backed by Steven Bartlett on Dragon's Den 'saved from administration' by Paisley firm

A cheesemaker – which was Steven Bartlett’s first-ever investment on Dragon’s Den – has been saved from administration by a Paisley-based company.

The Albex Group – a family of food ingredient processing and distribution companies – has announced their acquisition of The Cheese Geek from the brink of collapse.

Entrepreneur Bartlett invested in the London-based food manufacturer in 2021, securing a 5% stake for £150,000.

His investment in the artisan cheesemaker was highlighted in his debut series of the BBC One show in 2022.

The company, founded in 2017 by Edward Hancock, provides unique brands of cheese online, in stores such as Sainsbury and Selfridges, in higher end supermarkets, at delis, in restaurants and gastro-pubs.

According to a document on Companies House, the Dragon’s Den star’s private equity firm Catena Capital held 16,427 shares in the business.

Bartlett’s investment in the firm was conditional on his money being returned within two years.

The Cheese Geek is the second acquisition by The Albex Group in the cheese sector, having bought cheese cutter and packer Tom Walker & Sons in 2020.

Andrew Dalglish, director of Albex, said: “Cheese Geek’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 Cheese Geek.

“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 Cheese Geek. 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.”

Steven Bartlett and the Cheese Geek have been contacted for comment.