Steven Bartlett's debut Dragons' Den investment, saved by Albex Group after administration

Cheesegeek, the artisan cheese retailer and first company that Steven Bartlett invested in on the BBC One series Dragons' Den, has been acquired by Albex Group, a Scotland-based firm, after falling into administration.

The purchase amount remains undisclosed, as reported by City AM.

This development follows Bartlett's investment of £150,000 for a five per cent stake in the London-based Cheesegeek in 2021, as reported by The Grocer. His investment was highlighted during his debut series on Dragons' Den, which aired early in 2022.

The deal with Cheesegeek, established by Edward Hancock, stipulated that Bartlett's investment be repaid within two years. Through his private equity company Catena Capital, Bartlett owned 16,427 shares in Cheesegeek, as indicated by a Companies House filing.

Andrew Dalglish, director at Albex, commented: "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."

He further stated, "As a family company we always take a long-term view and are committed to fully supporting Cheesegeek."

Dalglish emphasised the significance of their funding, noting that it provides the necessary stability for Cheesegeek to not only continue operations but also to realise its full potential in collaboration with the artisans who contribute diversity and craftsmanship to the UK 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."

In 2020, The Albex Group had previously taken over cheese cutter and packer Tom Walker & Sons.

Both Steven Bartlett and Cheesegeek have been approached for comments.

The downfall and subsequent rescue of Cheesegeek follows a report by City AM in February stating that Steven Bartlett had resigned as a director of nutrition brand Huel.

The celebrity entrepreneur, who has been a long-standing investor in the company, had held the position since early 2021.

Huel, based in Hertfordshire, also boasts investors such as Idris Elba and Jonathan Ross.

This departure occurred a day after Emma Woods, former chief executive of Wagamama, also resigned as a non-executive director.

In August 2024, advertisements featuring Steven Bartlett for nutrition brands Zoe and Huel were prohibited after it was determined they did not disclose their commercial relationship with the celebrity entrepreneur.

The Advertising Standards Authority (ASA) has criticised adverts that appeared on Facebook in February, stating they "omitted material information" regarding their connection to entrepreneur Bartlett.