Stellar Asset Management has made a £10m investment in easyCoffee, the UK’s only value coffee chain and part of the ‘easy’ family of brands that includes easyJet.
The new money will allow easyCoffee to roll out 800 vending machines nationally in the next year. It has grown rapidly since it launched in 2016 and recently installed its 50th vending machine in the market. It also served its millionth cup of coffee in its eight coffee stores.
This capital injection from estate and succession planning specialist Stellar more than triples the amount secured in earlier capital raising rounds, which resulted in £3m of investments in the company by investors such as Saudi investment group Al-Dhowayan. Previous investments by Stellar, which has a portfolio worth £300m, include the purchase of the Holiday Inn Express in Glasgow.
easyCoffee will be available to investors through Stellar’s ESP Growth Portfolio Service. ESP Growth is a discretionary managed portfolio investing in a diversified range of qualifying business activities.
easyCoffee CEO, Nathan Lowry, said: “We are excited to now move forward with our ambitious growth plans, thanks to this significant investment by Stellar Asset Management.
“Vending is a highly profitable business driven by brand recognition. This investment is an endorsement that the easyCoffee brand, like its sister brand easyJet, stands for a quality product and service at a value price.”
Jonathan Gain, of Stellar, added: “Stellar is delighted with this deal, we are committed to offering our investors maximum investment diversification and easyCoffee will sit alongside our other qualifying business activities including: commercial forestry and farming; residential and commercial development; renewable energy; and managing and operating hotels. We are looking forward to working with Nathan and the team and the exciting growth opportunities in this market.”