Boost gets fresh follow-on investment from BGF
BGF provided Boost Juice Bars UK (Boost) with follow on funding in December 2014 after a continued period of growth. BGF’s investment in the company now stands at £3.9m, up from the £2.5m committed in December 2012.
The number of Boost stores in the UK has more than doubled from 10 to 25 with sales approaching £10m over the last 18 months. New flagship stores have launched in London, Newcastle, Brighton and Birmingham along with other major cities across the UK. The original 10 stores – including Manchester’s Trafford Centre and Meadowhall Sheffield – continue to show very strong like for like sales growth, as they approach nearly eight years of trading and as the “well-being” sector continues to find favour among food and beverage consumers. Manchester Trafford Centre now hosts two Boost Juice Bars and remains the busiest location for the company across its global footprint of 350 stores in 16 countries.
The company behind Boost, Manchester-based TD4 (to die for) Brands, will use the follow-on capital to accelerate the roll-out, with locations identified for another 20 stores over two years.
Co-founders, Richard and Dawn O’Sullivan, retained their existing shareholding while their long standing non-executive chairman Bill Holroyd, one of the original backers and current non-executive at AO.com, increased his shareholding in the company. BGF, which provides long-term and patient capital as well as access to a network of support for growing businesses, remained a minority shareholder.
Richard and Dawn O’Sullivan bought the exclusive rights to operate the Boost business in the UK and the Republic of Ireland in 2006, shortly after selling their original business Millies Cookies to Compass PLC.
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