easyCoffee’s plan to roll out 800 vending machines nationally in the next year has been given a boost following a £10m investment by Stellar Asset Management.
The value coffee chain - part of the ‘easy’ family of brands that includes easyJet - has enjoyed rapid growth since it launched in 2016 and recently installed its 50th vending machine.
This substantial capital injection from Stellar Asset Management more than triples the amount secured in earlier capital raising rounds, which resulted in £3m of investments in the company by investors such as Saudi investment group Al-Dhowayan.
easyCoffee CEO, Nathan Lowry, commented: “We are excited to now move forward with our ambitious growth plans, thanks to this significant investment by Stellar Asset Management.”
He added: “Vending is a highly profitable business driven by brand recognition. This investment is an endorsement that the easyCoffee brand, like its sister brand easyJet, stands for a quality product and service at a value price.”
Jonathan Gain, of Stellar, said: “Stellar is delighted with this deal, we are committed to offering our investors maximum investment diversification and easyCoffee will sit alongside our other qualifying business activities including: commercial forestry and farming; residential and commercial development; renewable energy; and managing and operating hotels. We are looking forward to working with Nathan and the team and the exciting growth opportunities in this market.”
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