Foresight invests £3m in coffee roaster 200 Degrees

 Nottingham, 8 December 2017: Foresight Group (“Foresight”) has invested £3m of growth capital into 200 Degrees a Nottingham-based specialty coffee roaster with six coffee shops across the UK and a thriving wholesale business.

200 Degrees is a business founded in 2012 by Rob Darby and Tom Vincent, an ambitious management team with over 15 years leisure sector experience. Initially established as a supplier of coffee beans and machines to cafes, delis, bars and restaurants through a small roasting operation, the business has evolved and, in 2014, the first 200 Degrees Coffee Shop and Barista School was opened.

 200 Degrees successfully differentiates itself as an independent coffee shop, offering high quality coffee and freshly prepared deli style food in a distinctive atmosphere. The team has grown the business rapidly and opened five new stores in the last 18 months in Nottingham, Birmingham, Leeds, Leicester and Cardiff. With dedicated barista schools and a quality coffee product, 200 Degrees is becoming a highly regarded brand in the rapidly expanding and fiercely competitive coffee market.

Foresight’s investment of £3 million will support expansion across the UK with a programme of shop openings while building the wholesale business and online retail coffee subscription model.

As part of the investment plan, Jonathan Hart, former MD of Caffé Nero and CEO of Thorntons, will join the Company as Non-Executive Chairman to support its growth ambitions.

Mike Quinn, Senior Investment Manager at Foresight, commented: “200 Degrees is a growing business in an increasingly growing market. The fifth wave of coffee is an interesting space and we believe 200 Degrees and its ambitious management team have made great progress in the last five years. We look forward to working with them, expanding the store led model to bring their quality coffee to more retail and wholesale customers across the UK.”

Rob Darby, CEO of 200 Degrees, commented:

After five years of hard work our rapid rise has pleasantly surprised us. We now have numerous opportunities that we need to grab while they’re there. The Foresight investment allows us to keep 200 Degrees independent but open more of our shops, do great things with online subscription and offer excellent support to our wholesale customers.

We have absolutely no desire to become soulless, corporate coffee but we make no bones about having ambition to be much more than we are. I think maintaining an independent attitude, high standards and a slightly warped sense of humour in a period of rapid growth will be the next big challenge.

Foresight was advised by SHMA, PKF Cooper Parry, Catalysis advisory and Pragma. 200 Degrees and the founders were advised by Haines Watts, Fraser Brown and Smith Cooper.

 

-ENDS-

 

For further information please contact:

Ben Thompson, Foresight Group: bthompson@foresightgroup.eu | 020 3667 8155

Mike Quinn, Foresight Group: mquinn@foresightgroup.eu  

About Foresight Group LLP (“Foresight”)

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.

Foresight has £2.8 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Property Relief (BPR).

Foresight’s Private Equity team, comprising eighteen investment professionals, invests typically between £1m and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.

Foresight was voted ‘Best VCT Investment Manager’ at the Growth Investor Awards 2017.

Foresight’s local Nottingham office manages the Foresight Nottingham Fund (FNF), a £40 million dedicated regional growth fund providing investment and support to businesses in the Nottinghamshire region on behalf of the British Business Bank and Nottinghamshire Local Government Pension Fund.  FNF was created to stimulate enterprise, to create jobs and to attract inward investment to the region, and holds investments in thirteen growth companies.

 Foresight has offices in London, Manchester, Nottingham, Guernsey, Rome, San Francisco and Sydney.

 

www.foresightgroup.eu

 

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