A healthy-eating fast-food chain has sold a £3m stake to private equity to allow it to embark on ambitious plans to expand.
Friska, a chain of eight outlets in Bristol and Birmingham that expects to turn over £4.6m this year, struck the deal for an undisclosed minority stake last week with YFM Equity Partners of Leeds, which has also backed the leisure brand Go Outdoors.
Friska — which means healthy in Swedish — plans to open at Manchester Science Park in the autumn, followed by outlets in the city’s central business district.
It was founded in 2009 by Bath University economics graduates Griff Holland, 34, and Ed Brown, 31. Friska provides “feelgood food” using ethically sourced products, while supporting Third World entrepreneurs from the profits and relying where possible on renewable energy. “We have a pride around what we do and how we do it,” said Holland.
He added: “We’ve spent the past eight years understanding what makes a quick-service restaurant tick — the sort of things you need to focus on to compete with the best, namely Pret A Manger.”
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The former Wagamama chief Steve Hill, who chairs the Vietnamese food chain Pho, becomes chairman.