The company will use the equity capital to expand according to the Wall Street Journal, which said the business had increased its revenue by 500 per cent in the last three years.
Blue Sky helped launch Beach Burrito six years ago, and it has since expanded to six stores across New South Wales.
Tim Wilson, a Blue Sky managing director, told Deal Journal Australia, “[Beach Burrito managing director Blake Read] has built a rapidly growing and highly profitable business in a period where many restaurants were closing their doors.
“There is a significant opportunity to roll out new restaurants across the country. We know the demand for the product is there, it is now just about bringing the model to the market as quickly as possible.”
Earlier this month Blue Sky Alternative Investments hired two new private equity executives amid plans to open a Sydney office.
Experience corporate finance private equity executives Andrew Champion and Mark Watson will head up the firm’s operations in Sydney and Adelaide respectively according to the Australian Financial Review.
It said the listed firm had no plans to hire anyone else for the Sydney office within the next 12 to 24 months.
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