David Knibbs transformed from corporate executive to entrepreneur after losing £250,000 in failed ventures. His path began with an eco-cleaning brand and bioethanol plant, both collapsing due to product flaws and market challenges. By 2015, he and partner Lydia Smith acquired a local tofu business, rebranding it as The Tofoo Co. with £120,000 in initial investment.
The company scaled to £23mn annual revenue, leveraging a simple three-ingredient recipe and strategic retailer partnerships. In 2024, Comitis acquired the firm for over £35mn, retaining Knibbs and Smith as co-directors with 6% stakes. Their story highlights resilience in the plant-based sector, where Tofoo’s sticky concept defied market trends.
Source: Financial Times Companies · Summarized by HeadlinesBriefing