More juice for Boost to grow

THE UK arm of Boost Juice Bars, which is owned and run by Cheshire entrepreneur Richard O’Sullivan, is planning further expansion after securing £1.4m in a second round of funding from the Business Growth Fund.

Two years ago BGF, which is backed by the major banks, took a minority stake in return for £2.5m which was used to roll out the brand.

It now has 25 stores, including two at the Trafford Centre and a third at Piccadilly train station, and has revenues of around £7m.

BGF has put in an extra £1.4m which the company behind Boost, Manchester-based TD4 Brands, will use to add an extra 20 shops over the next two years.

Richard O’Sullivan, co-founder and chief executive of Boost said: “The past 18 months has seen fantastic growth in new stores and in our underlying performance. We have identified many potential Boost locations. We are keen to move forward with expanding the Boost brand throughout England and Scotland in particular. BGF’s follow-on investment allows us to do this.

“Since working with BGF, we’ve retained control and flexibility over the running of our business, with the added benefit of access to its growing network. This approach suits our culture and style and, importantly, is in line with the expectations set by BGF.”

Neil Inskip, senior investment manager, BGF and Boost board member said: “With this follow-on investment, we’re increasing our backing of a highly experienced management team. We’re enjoying watching Boost make its mark in the fast-growing wellness sector, and we’re all the healthier for it.”

Richard and Dawn O’Sullivan will retain their existing shareholding while their long standing non-executive chairman Bill Holroyd, one of the original backers and current non-executive at AO.com, has doubled his holding to 16% after buying from other, smaller shareholders. BGF still holds a minority stake.

The O’Sullivans bought the exclusive rights to operate the Boost business in the UK and the Republic of Ireland in 2006 after selling their original business Millies Cookies to Compass.