Crowdfunding Australia

Ironclad Pan Co

  • Type: Retail and Wholesale
  • Total Round Size (min): NZ$300,000
  • Total Round Size (max): NZ$1,250,000
  • Price per share: NZD$1

Handmade To Be Handed Down

Offer Live

Ironclad Pan Co

Founded in 2019, the Ironclad Pan Company produces the only cast iron cookware with a Three Generation Guarantee.

As this is an New Zealand offer, to invest in this deal from outside of NZ, you must be a Sophisticated, High Net Worth or Experienced Investor. To understand what that means in your jurisdiction please see the criteria here.

  • Fees Paid by Issuer
    : 6% of funds raised
  • Minimum Parcel Size
    : $250
  • Issuer
    : The Ironclad Pan Company Limited
  • Security
    : Ordinary Shares

Offer Overview

Equitise Nominees Limited (The Nominee)

The Nominee is a Bare Trust structure that holds securities on behalf of the investor. The Nominee is in place to handle administrative responsibilities on behalf of the company and to limit total shareholder numbers. Investors are entitled to the same rights as they would directly on the share register. More information can be found in the Investment Agreement, accessible at the final stage of investing and page 42 of the Ironclad Information Memorandum. Any investment of NZ$100,000 or more will not be held under the Nominee.


In the event of excess demand, Ironclad retains the right to raise more than NZ $1.25 Million.

Key Documents

Crowdfunding Australia

Company Overview

Ironclad Pan Co are a sustainably focused cookware brand making products that will last more than one lifetime. The only cookware brand offering a multi-generational guarantee, Ironclad’s trademark Three Generation Guarantee is the longest legally binding product warranty on earth.

All of their cast iron is made from the highest quality recycled iron, and every pour is tested. The only cast iron cookware company manufacturing in Australia and New Zealand, Ironclad’s vision is to make planet friendly products that will be cherished and handed down for generations.

While Ironclad sells quality cast iron cookware, their cast iron cookware sells something far more emotional: the idea of slowing down, of spending quality time with loved ones, and creating a culinary bond that transcends generations. 

Roughly 70% of their $1.6m CY22 sales came online via their separate Australian and New Zealand websites, while 30% came through wholesalers. 77% of sales are in New Zealand, while 23% come from Australia and further afield.

Not content with producing the original line of pans, Ironclad maintains a consistent focus on New Product Development in order to drive the agenda in the category. By way of example, their knife range was the world’s first application of merino wool in knife handles.

The company currently lays claim to a tiny sliver of the US$25 billion cookware market, which is forecast to grow at an annual CAGR of 6.5% until 2030. While they sell globally, their focus is currently on Australia and New Zealand.

Capital received from this raise will be put towards growing their brand, D2C sales, and retail presence in Australia. Over the medium turn, given the purchase requests flooding in already from an additional 13 countries, Ironclad has a soft launch in the US planned for 2024.

Investment Highlights

  1. Meaningful Foothold Quickly Gained Upon Launch

    In 2019, the three co-founders invested $1,000 into the business. Since then, revenues have grown from $250k in 2019 to $1.6m in 2022. In addition, Ironclad works with 150+ chef and influencer partners, has 40,000+ social media followers, and has had over 15,000 customers to date.

  2. Sustainable Platform From Which To Grow

    Having grown revenue more than 70% p.a. over FY22 and FY23 without sacrificing profitability, Ironclad has found a successful balance between growing quickly and sustainably. This is aided by a solid (~50%) gross margin profile as well as a highly efficient customer acquisition engine - the majority of their retail partnerships to date have come inbound organically.

  3. Already Present in Australia with Plans to Expand to the US

    In April 2022, Ironclad soft launched in Australia with Australian made cast iron products. Within the first four months, there were Australian sales weeks that outperformed New Zealand. In August 2022, they signed Kitchen Warehouse - Australia’s largest kitchenware retailer. After four months in the market, AU D2C daily sales were higher than NZ.

  4. Impact Baked Into the Business Model

    With an average recommended lifespan of two years, millions of chemically treated non-stick pans end up in landfill. While the mountains of waste grow, over one billion people experience iron deficiency worldwide. By educating people about the environmental issues associated with Teflon and the health benefits of cast iron, Ironclad has found a current context for an ancient product.

  5. Significant Founder Brand Building Experience

    With backgrounds in Advertising and Design, Ironclad’s team have decades of global experience working with some of the world’s biggest brands. In four years, they have set the foundations for building their own brand as part of their mission to grow local foundations into a global brand.

Product Range

In a category where disposable products dominate, the Ironclad Pan Company stands tall with our unique promise: the Three Generation Guarantee®.

While we sell quality cast iron cookware, our cast iron cookware sells something far more emotional—the idea of slowing down, of spending quality time with loved ones, and creating a culinary bond that transcends generations.

Here are the products we sell and their roles in culture:

The Heirloom

Available D2C. The Heirloom is handmade in New Zealand with 100% recycled iron. These beauties are poured, finished and seasoned by hand. The result of this painstaking process is an ‘antique finish’—an unmatched polish inspired by cast iron cookware made before the impact of the Industrial Revolution. When time wasn’t the enemy of profit. It’s a slow process, but it’s worth it. The final skillet feels like ceramic and works like Teflon. The Heirloom comes with a lifetime subscription to the Recipe Vault and the option of personalising the Ironclad guarantee on the base. Another process done by hand. Essentially, this skillet makes everything else in the category look pretty basic.

The Legacy Range

Available D2C and in retail. The Legacy Range is handmade, hand finished, and hand seasoned in Australia using the highest grade of recycled iron. Like the Heirloom, each product comes with our trademark Three Generation Guarantee® cast into the iron and a lifetime subscription to the Recipe Vault.

The Chef's Range

The products in our Chef’s Range are as diverse and unique as the chefs that help design them. The principle behind these cast iron innovations will be to create something missing from the chef’s kitchen. An innovation, a cultural collision, or a new take on an old object. These will be limited run products available D2C and with select retail partners.

The 100 Series

The Ironclad 100 Series is a tribute to the longevity of cast iron. Each is a recreation of an antique cast iron product made 100+ years ago. The majority of these designs have not only outlasted the craftsperson, but the foundries themselves.

Growth to date has happened organically through recommendation. This level of advocacy and a 27% repurchase rate has made our paid acquisition costs very comfortable and scalable at around $60.

Coming from a background of advertising and design, we know that there are more ways than paid advertising to grow a business. Below are some of the ways we plan to grow in the short, medium and long term.

Growth Strategy

  1. Physical Availability

    13% of Australian cookware buyers know who we are. To put that in context, 10% of Australian cookware buyers have heard of Solidteknics—an Australian cookware brand with 10+ years in market. With a 2023/24 focus on our retail presence we will be able to convert more of those shoppers. And there are a lot of them. In the past three years, 11 million Australians1 have purchased premium cookware.

  2. Australian Made

    Our business model is designed to manufacture locally in our key markets. As we move into Australia this structure is proving itself. As it turns out, four in five Australian shoppers believe buying Australian Made is important2. To promote our unique advantage, we have a program of work, products and partnerships that will tell our story of manufacturing locally.

  3. Reviving the Category

    On every Price x Quality graph, there are always a handful of companies who play in the lower left quadrant. Low quality. Low price. Our handmade range will never compete with them. Nor do we want them to. But there is an audience looking for a quality cast iron alternative at a lower price point. We are in the process of developing a solution for these customers.

  4. Prove, Don't Say

    If brands spent more time making things and less time advertising, the world would be a better place. Our knife range was the world’s first application of merino wool used in knife handles—a sustainable and viable alternative to plastic. We considered the release both a new product launch and an insight into who we are as a brand. There is an integrity and efficiency found by operating this way. Ongoing we plan to use every product we make to communicate who we are as a brand. This will reduce our need to use traditional advertising channels.

  5. Healthy Planet

    With an average recommended lifespan of two years, millions of chemically treated nonstick pans end up in landfill. We are the solution. By providing an ever growing audience with an all-natural, non-stick product that lasts for generations we can significantly reduce the number of pans going into landfill.

  6. Healthy Body

    Over one billion people experience iron deficiency worldwide. By promoting the health benefits of cast iron, we can continue to find a contemporary context for an ancient product. And with the right communication, and a little innovation, we can lead this conversation.

  7. Co-Creation with Chefs

    We already have relationships with some of the best New Zealand and Australian chefs. But we don’t just plan to populate the internet with images of them holding up our products and smiling. To truly embed ourselves in culture we have to contribute to it. So we are developing a revenue-share model to co-create products with these world leading chefs.

  8. Increasing Profitability

    To date, we have been too young and too small to experience the efficiencies of ordering at scale. As we grow in Australia, we are beginning to see the benefits—with no impact on quality or the integrity of our products. As we increase demand we lower the Cost of Goods, logistics, and shipping fees.

  9. USA

    The home of cast iron. We’re currently experimenting with some paid comms to a small US audience. The market is more familiar with the benefits of cast iron so the cost of customer aquisition is less. As an experiment, we reduced our international shipping fees to the US to better compete with US cast iron manufacturers. The results were really promising. If our Australian growth targets are reached, we will be on the ground in the US to distribute locally in 2024.

Investor Rewards

Kitchen Porter

For investments between: $500 - $1,999

  • 10% Lifetime discount
  • Lifetime Recipe Vault access
Pastry Chef

For investments between: $2,000 - $4,999

  • 20% Lifetime discount
  • Lifetime Recipe Vault access
  • Lil Legacy Pan
Sous Chef

For investments between: $5,000 - $9,999

  • 20% Lifetime discount
  • Lifetime Recipe Vault access
  • Legacy Pan
Executive Chef

For investments above: $10,000

  • 20% Lifetime discount
  • Lifetime Recipe Vault access
  • Heirloom Legacy Pan

Why Equity Crowdfunding?

In an era of disposable stuff and low quality imports, Ironclad Pan Co creates products that last for generations, and reduce the millions of Teflon pans being sent to landfill every year that leach potentially harmful chemicals into our soil. Their sustainable mission is community-led at its very core. 

By investing in Ironclad Pan Co, you are becoming a part owner in a trailblazing sustainable Kiwi business.

Don't miss the opportunity to become a part-owner in Ironclad!

Key Team Members

Team Member

Joe Carter

Director, Commercial Lead

Contagious, ColensoBBDO, and P&G.

The generalist of the group, Joe has worked in marketing and advertising for 10+ years. Joe was always known as the round peg in a square hole. And that is what makes him the ultimate fit for a start-up like Ironclad Co.

Team Member

Kate Slavin

Director, Design Lead

Wieden+Kennedy, Mother, TBWA, and ColensoBBDO.

Internationally awarded graphic designer turned product designer, Kate has created the best performing products on the market and established a premium aesthetic for the Ironclad brand.

Team Member

Levi Slavin

Brand Lead

ColensoBBDO, ClemengerBBDO, Saatchi&Saatchi, and Howatson+Co.

Consistently ranked as one of the most creative people on the planet, Levi is the versatile visionary of the company. His leadership and attention to craft brings every Ironclad partner on the journey.

Team Member

Felicity Morgan-Rhind

Content Lead

A film director by trade, Felicity was trained as a chef by Peter Gordon. She helped elevate a local cookware company to a global brand.

Team Member

Rob Galuzzo

Director - Australia

Rob is the Executive Producer and CEO of FINCH, one of the leading production companies in Australia and New Zealand. Rob is driven by curiosity and imagination — qualities he will add to the Ironclad brand.

Financial Information

For more information please see pages 29-32 of the IM.

Use of Funds

For more information please see page 40 of the IM.

Key Risks

For more information please see page 37 of the IM.

Competition Risk


Our competitors in AU and NZ sell cheap, low quality cast iron cookware. While we educate AU and NZ on the benefits of cast iron, a good portion of our converted audience turn to these products based on price.


We will continue to focus on our unique range of premium, long lasting products. While some customers may opt for cheaper products in the short term, the shorter usable life of our competitors’ products will mean these customers can be recaptured.

Supply Chain Risk


There is only one foundry in Australia and one in New Zealand who can manufacture cast iron cookware. We have exclusivity, but we need to diversify. 


Part of the capital raised will be used for new technology for our existing foundry partners, and to diversify our supply chain to include quality foundry partners in Fiji, Turkey, China, and America.

Expansion Risk


Without funding, we will continue to grow as we have done: organically. As evidenced by our sales, this technique is effective but slow.


With funding, we can grow through paid acquisition and strategic PR campaigns. This will mean reaching growth targets in half the time.

IP Risk


We own a lot of IP. However, our brand name is difficult to trademark in every market.


We have invested in a dedicated legal team to handle trademark applications for the markets on our roadmap to acquisition. 

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