Crêpeaffaire secures £2m as it looks to triple in size
Crêpeaffaire, which operates 15 outlets across the UK and has a growing franchise in the Middle East, has secured £2m from BGF as it looks to triple in size.
Set up in 2008 by chief executive Daniel Spinath, the creperie chain provides an all-day offering, serving sweet and savoury crêpes, waffles, coffees and smoothies for food-to-go and sit in customers.
Starting from a single London site, the quick service group has since opened new sites across London and other parts of the UK, including Birmingham, Newcastle, Leeds and most recently Chester. The business generated more than £5m in revenue in 2017, with system sales approaching the £10m mark.
The group is now anticipating further growth after securing a £2m funding package from the bank-owned BGF (formerly the Business Growth Fund). The funding, coupled with the recent appointment of Andrew Guy as non-executive chairman, will help the chain expand its portfolio in the UK and overseas.
Guy brings more than 30 years’ experience in operating pub, food and restaurant companies across the UK, Europe and the US, including Frankie & Benny’s and HMSHost. He is also non-executive Chairman of BGF-backed The Coaching Inn Group.
Speaking about the news, Spinath said: “This is a really exciting time for Crêpeaffaire. We’ve grown steadily during the past 10 years and are now ready to accelerate our expansion and drive brand awareness, both in the UK and internationally.
"BGF is providing an initial investment but more importantly has come on board as a long-term, non-controlling partnership. We are pleased to be working with them in the next stage of our growth plan.”
Jon Simon, Investor, BGF said: “Daniel and his team have created an offering and brand that is differentiated and scalable. It caters to a wide audience, providing both healthy and indulgent products, at an attractive price point. We look forward to supporting Crêpeaffaire through its next phase of UK and International growth.”
Published: 23 January 2018