Healthy fast food chain Friska clinches £3m investment
Young Gun-founded restaurant chain set to embark on period of nationwide expansion, with plans to open Manchester outlets within the coming months
Friska, the healthy fast food restaurant chain, has raised £3m in funding from YFM Equity Partners’ British Smaller Companies Venture Capital Trusts, alongside support from Santander.
Launched in 2009 by 2014 Young Guns Ed Brown and Griff Holland, Bristol-headquartered Friska has nine outlets across Bristol, Birmingham and Luton Airport, offering seasonal and ethically sourced “feel good food” for breakfast and lunch.
The company claims to be on track to turnover £4.6m this year and has plans to open outlets in Manchester within the coming months.
Friska also donates to a microfinance charity called Deki, which enables people to lend as little as £10 to an entrepreneur in the developing world. Each month the company fully funds an entrepreneur through the sale of a special ‘Deki dish’.
Friska raised another £1.25m back in October 2014, when it detailed plans to open 10 new sites across Bristol, Birmingham and Manchester by 2017. This latest investment will enable the company to put those growth plans into action.
Charlie Robinson, investment director at YFM, commented: “This is our second successful deal completion with TLT in the last 12 months and as ever, they provided invaluable and pragmatic advice throughout the whole process. We are very excited by the prospects for Friska and are looking forward to supporting the development of the brand.”
Jon Gill, partner and head of private equity at TLT – which advised YFM on the deal – said: “Friska is an excellent example of the innovative concepts in the food and drink sector that the South West is so good at creating and exporting to the rest of the UK.
“We were delighted to be able to support YFM with their latest investment in a business that we know well, and wish Brown and Holland every success in their new partnership with YFM to scale the business further.”