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BGF backs smoothie seller Boost Juice Bars with £2.5m

2 Jan 2013

Andy Gregory Business Growth Fund - AltAssets Private Equity NewsUK SME investor the Business Growth Fund has parted with £2.5m of growth capital cash for a minority stake in Manchester-based smoothie chain Boost Juice Bars UK.

The company was founded in Adelaide in 2003 before expanding into more than 20 other countries, and currently has ten stores across the UK.

It first hit British shores in 2007 when Richard and Dawn O’Sullivan, the team behind Millies Cookies, acquired the rights to exclusively operate the chain in the UK and Ireland.

BGF’s regional director for the North of England and Northern Ireland, Andy Gregory, pictured, will join the Boost board following the investment.

The company said the capital will be used grow its portfolio to about 40 stores over the next three years.

Gregory said, “From the outset we recognised that this is a company with a fantastic product range, supported by a strong and dynamic brand.

“Richard, Dawn and the rest of the management team are highly experienced in this sector and you only need to look at the success they had previously in executing a very similar rollout with Millie’s Cookies, taking it from an initial few sites to over 100 locations, to understand our confidence in them.

“In Boost, we are backing an established, proven concept with significant roll-out potential.

“With the increasing focus by consumers on wellbeing and healthier lifestyle, Boost is well placed to capitalise on a rapidly growing market.”

Last month BGF made a £3m investment in Spanish tapas restaurant chain Camino Leisure.

BGF will take a minority stake in the business, which owns three restaurants in London’s King’s Cross, Canary Wharf and Monument.

A fourth site is due to open in Blackfriars this spring.

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