Moonglow Trading secures seven-figure funding package for coffee shop expansion
Retail and hospitality business Moonglow Trading has secured a seven-figure funding package to help it open new coffee shop franchises.
The deal with HSBC UK will enable the business to expand its hospitality offering by opening up to four Black Sheep Coffee franchises in places like South Gate House in Cardiff and on the High Street in Oxford.
Moonglow Trading is a prominent player in the retail space, having built and sold a 30-store Tiger Stores brand.
The new franchises will add to Black Sheep Coffee’s 73 stores across the UK.
Jonathan Edwards, director of trading at Moonglow Trading, said: “Becoming a franchisee for Black Sheep Coffee has allowed Moonglow to use its experience in the retail and catering space to work with a unique coffee business with an upward growth trajectory. The move also fits with our aim to work alongside businesses which are shaking up traditions, using innovative tech for growth, as well as allowing us to explore opportunities outside London.”
Anthony Couzens, relationship director at HSBC UK, added: “It’s been great to support the team at Moonglow over the years with a range of successful businesses, and I have no doubt this partnership with Black Sheep Coffee will follow the same pattern.”