Crowdfunding Australia


  • Type: Retail
  • Total Round Size (min): AUD$250,000
  • Total Round Size (max): AUD$500,000
  • Price per share: AUD$1.05

Clean snacks that cut the crap.

Offer Live


Chief is now accepting investments!

  • Fees Paid by Issuer
    : 6.0% of funds raise
  • Cooling-Off Rights
    : 5 working days
  • Minimum Parcel Size
    : $250

Offer Overview

Key Documents

What is Chief Nutrition?

At a glance:

  • Two brands (Chief and Beauty Food) under one company.
    Annual run rate has grown from $400K to $1.6M in the past 12 months.
  • Just launched in Harris Farm, BCF and David Jones. Currently onboarding with Woolworths* and Woolworths Metro.
  • Selling into NZ and Middle East. US launch planned for 2023. Opportunity in Malaysia, Japan, Singapore and Hong Kong.
  • Secret recipe products, very hard to replicate. Significant improvement in COGS just implemented. New products ready to go.


Chief is a fast growing brand in the “better for you” snacking space with national and international distribution, turning over $1.6m run rate revenue. The group is made up of the core Chief brand (80% revenues) and a complementary brand, Beauty Food.

Within the c.$98bn global healthy snack market, consumers are moving away from big food companies with their perceived healthy snacks which are actually full of artificial ingredients and/or sugar. Consumers are instead looking towards alternative, “purpose led” brands which use genuinely healthy and sustainable ingredients.

Chief has created a range of health snacks that are totally uncompromising on health and sustainability. Chief’s beef bars, collagen bars and collagen cookies are made using secret recipes which are very difficult to replicate:

Within the c.$98bn global healthy snack market, consumers are moving away from big food companies with their perceived healthy snacks which are actually full of sugar and artificial ingredients. Consumers are instead looking towards alternative, “purpose led” brands which use genuinely healthy and sustainable ingredients.

  • Chief Beef range (55% of FY22 revenue): Unique organic, grass-fed beef bars and biltong using premium cuts of organic grass-fed Aussie beef. No nasty preservatives or additives.
  • Chief Collagen range (25% of FY22 revenue): Sweet, nut-based bars, with collagen protein, that are one of the only truly clean and healthy snack bars in the world. All natural and low sugar.
  • Beauty Food (20% of FY22 revenue): A line of “edible beauty”, guilt free snacks to help you look younger whilst crushing those cravings. All natural and low sugar.

Chief is already gaining significant traction, tracking run rate revenue of $1.6m, and ranged in Harris Farm, BCF and David Jones with more major retailers like Woolworths in the pipeline. Through direct-to-consumer online channel, Chief creates strong customer loyalty and community building.

Brock Hatton and Justin Babet launched Chief in 2015, alongside Libby Babet (health expert, author and former trainer on Channel 10’s “The Biggest Loser”) and Veronika Larisova (nutritionist and ultra marathon runner). Libby, Brock and Justin are experienced founders with 5 successful exits between them. Brock was also one of the founding team for international health food brand Nuzest (still operating).

They are advised by a network of prominent figures across finance, investing and FMCG brand building, including the founder / former CEO of Bounce Foods.

Looking forward, Chief will continue to accelerate its rapid domestic growth through new Australian retailers and distributors, and further growth of online revenue driven by expansion of its influencer network. Chief exports to New Zealand and the Middle East, and plans to launch in the US in 2023 with an online led strategy leveraging learnings in the Australian market.

*There is no guarantee we will get into Woolworths but we have been onboarded and it is looking very likely.

Investment Highlights

  1. Differentiated product range, recommended by health professionals

    We’ve developed a range of healthy snacks that are some of the only snacks nutritionists, dieticians and doctors tell us they recommend to their customers. Our bars and cookies use secret recipes (trade secrets) that are very hard to replicate.

  2. Impressive traction to date

    Our annual revenue run rate has grown over 4x in the past 12 months, from $400k to over $1.6m. Close to 20% of our online revenue is from subscription customers who receive an automatic order every month. We have a clear path to profitability by mid CY22.

  3. Multi-channel distribution

    We sell direct-to-consumer online and via retailers, who we service directly and via Distributors in Australia and internationally. We’ve just launched in major retailers such as David Jones, IGA, BCF and Harris Farm, and sell in other channels such as butchers and gyms including Barry’s Bootcamp. We have trials with Woolworths coming up which could lead to broader distribution in up to 900 additional stores, and 60 Woolworths Metro stores.

  4. Highly marketable brand with excellent customer feedback

    Our brand has tremendous reach online, with over 4m Australians seeing our advertisements over the last 12 months. We have excellent customer feedback and a high repeat purchase rate of 35%.

  5. “Better for you” snack bar market is booming

    The “Better for you” snack market is projected to grow at 6%1 over the next five years as consumers distrust big brands and are increasingly seeking “purpose led”, healthy alternatives.

  6. Strong exits in the space

    Large food companies are buying smaller brands to maintain market share. Recent US examples include General Mills / Epic Meat Bars (acquired for $100m, 5.0x revenue) and Kelloggs/ RX Bar (acquired for $600m, 5.0x revenue). This trend has also been seen in Australia with Well Naturally, Keep it Cleaner and Raise the Bar all acquired recently.

  7. Robust Growth Strategy

    We’ve established a robust growth strategy to drive towards our target of over $10m revenues by the end of 2023. Our plan includes growing our product range and distribution channels, with plans for international expansion through an online led strategy in the US in 2023.

Product Overview

Crowdfunding Australia


  • Chief Beef Bar - 2 flavours: Traditional Beef, Beef & Chilli

*Coming Soon x 4 flavours: Salt & Vinegar, Smokey BBQ, Mexican, Teriyaki

  • Chief Biltong - 2 flavours: Traditional Beef, Beef & Chilli

*Coming Soon x 4 flavours: Salt & Vinegar, Smokey BBQ, Mexican, Teriyaki

  • Chief Collagen Bar - 4 flavours: Hazelnut Brownie, Peanut Butter, Cashew Shortbread, Lemon Tart 

*Coming Soon x 2 flavour: Macadamia Coconut, TBC

Beauty Food - a separate sub brand owned 100% by Chief Nutrition

  • Collagen Cookie - 3 flavours: Choc Chic, Peanut Nutter, Berry Bombshell

*Coming Soon x 3 flavours: Lemon Coconut, Kakadu Plum, Macadamia Coconut

  • Nut Butter with Collagen - 3 flavours: Choc Chic, Peanut Nutter, Berry Bombshell
  • Bioactive Marine Collagen Powder 

Core Business Model

Chief Nutrition enables four main sales channels, through our online website, distributors, wholesale distributors and major retailers. 

  • Online, D2C model. Our online, direct-to-consumer (D2C) model allows us to directly service customers online via our website. The D2C model enables us to tightly control our customer experience and ensure our shopping journey is streamlined, easy and efficient. This channel allows for both one-time purchases and subscription-based purchases, stemming from our customer loyalty. Currently as of H1 FY2022, online sales comprises 57% of total revenue in Australia.
  • Distributors. Another sales channel is through sales to distributors, who resell to retailers. Our primary revenue drivers are through online sales and distributors in Australia. Currently as of H1 FY2022, our sales to distributors comprises 22% of total revenue. We expect to improve our margins through greater volumes sold to distributors and increased operational efficiencies as we continue to scale. 
  • Wholesale, B2B model. Our wholesale distribution caters for demand fluctuations and unexpected additional fulfilment challenges. This currently comprises 18% of our revenue, expected to increase to 20% by FY2024.
  • Major retail distribution. We also gain revenue through major retail distribution. Direct sales to these major retailers differs from wholesale sales as a higher volume of product is distributed with lower margins. Major retail distribution comprises 3% of our total revenue in H1 FY2022, expected to grow to 36% by FY2024.

Our international sales seen through international distributors is just beginning to gain traction, with international revenue beginning to grow throughout late CY2021. We expect to see greater growth in this avenue by the end of CY2023, where it will comprise 5% of total revenue. This will be mainly derived from US markets, where potential US manufacturers are pending to fuel this growth there.

Growth Strategy

  1. Expand Product Range

    We foresee growth coming from increasing our flavour options within our current ranges and adding new products, especially as consumers are constantly demanding new flavours. This will maximise our opportunity to cross-sell and up-sell products to become a brand that caters for a broad range of dietary requirements, health needs as well as consumer preferences. By owning the product IP and employing contract manufacturers, this reduces our CAPEX expenditure, making us more attractive for acquisition. 

    We will expand our Chief range from 8 to 18 new flavours, and expand our Beauty Food range from 7 to 12 new products, by mid 2022. Chief will introduce four new flavours of Chief Biltong, aiming to be launched this year and four new flavours of Chief Beef Bars within a few months. With our Beauty Food product rollout, we expect to see two new flavours of Chief Collagen Bars by mid 2022 and two new Beauty Food Collagen Powder products, within a few months.

  2. Grow Online Channels

    We aim to achieve greater revenue through online channels, by reducing our COGS and increasing sales volume distribution. This will go hand-in-hand with building brand recognition to prove the value of our products in the healthy snack foods market. Continuing to grow our online marketing strategies will build a strong organic traffic funnel to our site, with greater conversion rates, returning customer rates and customer lifetime value (LTV).

    Social media platforms are a key channel to drive this sales and reach. Our paid marketing strategy is centred on profitable acquisition channels with high return on ad spend (ROAS), including Google Search Ads and expanding digital advertising. As of Q2 CY2021, 4 million Aussies viewed our ads last year. This will be fuelled through increased influencer marketing, who can strongly advocate for beauty food products and healthy snacking. Leveraging our strong presence online, we want to regularly engage with our customers to better understand their preferences.

  3. Focus on Wholesale & Major Retail Channels

    As we have seen since June 2021, wholesale and major retail channels demonstrate better margins due to shipping costs and on-the-shelf brand presence. Accordingly, major retail channels have seen a 10x growth in the past 6 months, indicating potential for better margins as forecasted for the next 3 years. 

    We aim to leverage scale by increasing our margins with volume, achieved by bringing logistics and warehousing in-house. To continue building our strong market presence, we will push for our products to be showcased through Australian major retailers, ranging from independent supermarkets, P&C and pharmacies. Our goal is to stock our products in Woolworths or Coles by mid CY2022. Growth in this area will be backed by building a full team in Australia, and bringing all of our operations in-house.

  4. International Growth

    Although we're already selling internationally such as in New Zealand and the Middle East, we'll shift our focus internationally (particularly the US market) once we've bedded down our home Aussie market. We will be selling in the US with an online-led strategy from Q2 of CY2022, replicating our success in Australia. With strong commercial operations here in Australia, Chief Nutrition will be in a strong position to deliver solutions globally. Hence, we aim to build an international brand and exit via a $100m trade sale.

Market Opportunity

Crowdfunding Australia

Influenced by the COVID-19 pandemic, the global snack market is valued at $493bn (2020). More specifically, the global healthy snacks market is projected to reach $98bn at 6% CAGR over the same period1. The broader snacking market is driven by consumer demand for convenience and on-the-go eating, with increasing importance given to health-conscious snacking.

The Australian snacking industry is dominated by large food conglomerates, such as Nestlé and Arnotts, with a high presence of snacks containing high sugar and added artificial ingredients. Within the snack market, the healthy snack segment includes products with low carbs, high protein, low or no sugar, low fat, wholegrain and natural foods. Nuts, trail mixes, and seeds contribute 41% of the total market and snack bars follow this with 20%.

The snack industry is seeing growth in alternative brands focused on purpose-led, “better for you” alternatives. This trend has seen multiple generations of products, as seen in the diagram below, as consumers become increasingly aware of what they are eating. 

In Australia, the projected value of the health snack food market will exceed AUD $1bn by 2023. The following trends are driving demand for this new category of snacks:

1. Increased consumer awareness

2. Edible Beauty

3. Changing consumer eating habits during COVID-19

4. Preference for high-protein snacks

5. Shift to online buying habits

For more information, please see Section 2.8 of the Offer Document.

Why Equity Crowdfunding?

We have chosen to raise capital through equity crowdfunding to give our customers and partners a chance to become shareholders. 

Over the next 5 years we see the continued rise of healthy food plus the rise of regenerative agriculture, sustainable food and farming practices. People will continue to gain more knowledge about what is healthy and want to know more about how their food is made. People are snacking more due to busier lifestyles, less home cooking and changes in the way we work. We'll win by bringing deliciously tasty, healthy and regeneratively farmed products to the masses in the form of snack foods.

Our mission is to help people stop eating crap food that destroys their health and the environment by providing better options.

We know our customers share the same passion as we do to create healthier versions of ourselves, which is why it made sense to allow them the opportunity to become co-owners in the business, to help drive our growth and ensure we remain community-focused. As the brand grows, we hope to allow these investors to share in our future success and become loyal brand advocates.

The funds from this equity crowdfund will help us expand our offering to a global scale and increase our manufacturing capabilities in the process.

Key Team Members

Team Member

Brock Hatton

Co-Founder & CEO

Over 10 years in Health and Wellness. Founded and sold Revivol, co-founded international success story Nuzest.

Team Member

Justin Babet

Co-Founder & COO

Over 20 years in start-up, leadership, HR, technology, health and fitness, operations and marketing including 4 exits.

Team Member

Libby Babet

Co-Founder & Evangelist

Trainer on TEN’s ‘The Biggest Loser’, fitness expert for Prevention Magazine and HIT Network. Founder of 3 successful wellness businesses.

Team Member

Veronika Larisova

Co-Founder & Community Manager

Nutritionist, exercise physiologist, ultra marathon runner and one of Australia’s top health and fitness influencers.

Team Member

Kalle Kortelainen

Co-Founder & Marketing Manager

Over 14 years of international business growth experience taking local brands to a global stage.

Team Member

Colette Harvey

Brand & PR Manager
Team Member

Jack Mortlock

Head of Growth
Team Member

Sarah Thornborough

Quality Assurance

Financial Information

For more information, please see section 2.12 of the Offer Document.

Use of Funds

Key Risks

For more information, please see section 2.14 in the Offer Document.

Supply Chain Risk

We rely on packaging suppliers, ingredient suppliers, third-party contract manufacturers and distributors. With current global supply chain and delivery constraints, this may hinder our expansion plans when entering new markets. Likewise, we may not be able to receive stock from interstate suppliers on time within Australia. This may result in significant delays or cause certain products to go out of stock, potentially delaying revenue or impacting our ability to grow sales.

Cost of goods risk

The cost of our products are dependent upon many factors including packaging costs, ingredient costs and manufacturing costs. Increasing costs of goods may result in significant reductions in margin, or significant increases in prices passed on to consumers which may affect our ability to compete in the market.

COVID-19 Risk

With our main channels of distribution including wholesale and major retailers, consumers may not be able to access on-the-shelf products at gyms/fitness centres, cafes, beauty salons or even supermarkets, in light of COVID-19. This may severely impact revenue streams from these channels and reduce consumer awareness and brand promotion. Additionally, our outsourced warehouse staff may need to isolate due to COVID-19 and this may impact timely delivery of products.

Competition Risk

We pride ourselves on delivering healthy products, a strong sustainable ethos and a local appeal that differentiates itself from similar competitors. If competitors begin adopting a similar approach, this could lead to a reduction of market share within Australia. This will impact our revenues and impact our growth prospects and customer retention rates.

Brand Risk

Our brand is centred around providing sustainably sourced and 100% real ingredients that support local Aussie producers and minimise our carbon footprint. In a case where quality controls are not met, this can harm our reputation and perception of the brand, leading to a fall in sales and potential loss of a loyal customer base.