Drumplings

Transaction Summary

Company Overview

Significant growth opportunity presented by globally scalable and repeatable business model

First mover advantage with a unique and innovative concept

Benefits of start-up investing, yet with a tested and proven product

Strong and capable management team with proven track record and hands- on involvement in the day-to-day management of the business

Favourable industry dynamics on balance Diversified distribution and sales channels Strong expected financial performance Ability to localise and specialise the product

During 18 months of operation, the restaurant welcomed more than 1 million customers, served up more than 8 million dumplings and turned over approximately $3.2m in revenue

Onset of COVID-19 moved Drumplings to a wholesale model of distributing frozen cook-at-home Drumplings with more than 500,000 dumplings sold to over 3,000 customers

Wholesale
Drumplings currently supplies Foodworks and Farmer Jack’s in Western Australia and has started supplying Woolworths Metro stores in the Melbourne CBD, and is in advanced discussion to supply Woolworths, firstly in Victoria, then nationally. Demand from the Metro stores in particular is growing significantly.Micro Stores

Drumplings has secured their first Micro-Model store at 55 Swantston Street Melbourne and looking to set-up two more.

Set to open in August 2022, Swanston Street is positioned in a high foot traffic street in Melbourne.

Online
Drumplings has a significant online presence and retails via iPantry and CO/LAB Pantry directly targeting the end consumer.

Exports
It is envisaged that, once sufficient domestic market penetration has been achieved, Drumplings will look to the export markets to take advantage of strong growth expected in the global markets. With success stories like Bigigo Dumplings, Drumplings is looking to tap into the export market sooner than later.