BOOST JUICE BARSDecember 2012 | Investment News
UK juice bar chain receives £2.5m boost from BGF
Manchester-based Boost Juice Bars UK (Boost) is a growing chain of retail stores specialising in the sale of freshly made smoothies and juices. Boost currently operates ten stores across the UK including Manchester’s Trafford Centre and Piccadilly train station, London’s Westfield White City and Westfield Stratford, Meadowhall Sheffield and Bristol’s Cribbs Causeway. Operating in the fast growing wellness category, Boost provides a healthy alternative to soft drinks, on-the-go meals and sweets. Nutritional and health advantages provided by juices and smoothies remain key growth drivers for the smoothie bar market.
Boost was founded in Adelaide by Janine Allis in 2003 and has nearly 200 sites throughout Australia alone. Its continued global expansion sees Boost Juice Bars now successfully operating in over 20 other countries including South Africa, Chile, Estonia, Germany, Kuwait, Singapore, Hong Kong, Thailand, India, China and Russia. Boost was established in the UK in 2007 when Richard and Dawn O’Sullivan, the team behind Millies Cookies acquired the rights to exclusively operate Boost Juice Bars in the UK and the Republic of Ireland. Six years on from its first opening, Boost in Manchester’s Trafford Centre continues to be one of the top 3 performing Boost Juice Bars from more than 280 stores now operating around the world. In the financial year ended September 2012 the business generated turnover of £4m.
Richard and Dawn O’Sullivan along with Chairman Bill Holroyd and Finance Director Martin Burrill were the team behind Millie’s Cookies, which grew to over 100 stores before its successful sale to Compass Group in June 2003 for £24m.Richard O’Sullivan has been the non-executive Chairman of Barburrito, a chain of fast-casual Mexican restaurants for the last four years. Barburrito, already sitting within the BGF portfolio, was the first business based in the North of England to receive BGF funding earlier this year.
In December 2012, BGF invested £2.5m in Boost and took a minority stake with Andy Gregory joining the board. BGF’s investment will help accelerate the company’s roll-out programme to grow its existing store portfolio of 10 stores to around 40 stores over the next 3 years.