Support from Irish bank AIB will support the bakery café chain’s expansion plans, which include adding five sites to its 61-store UK and Ireland footprint in the year ahead
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Bakers + Baristas currently operates more than 60 outlets across the UK and Ireland | Photo credit: Crazy Cake
Bakers + Baristas has secured a new six-year committed term loan from Dublin-based commercial bank AIB to support its expansion plans.
Parent company Causeway Capital, which first invested in Bakers + Baristas in 2015, said the funding will support investment in new and existing stores.
Bakers + Baristas currently operates more than 60 outlets across the UK and Ireland. The bakery café chain plans to open at least five new stores over the next 12 months.
In a press release Causeway Capital said Bakers + Baristas had achieved impressive like-for-like post-pandemic sales growth and is expected to deliver €22m ($24m) in sales this year.
“We are really pleased that AIB has backed our investment in Bakers + Baristas and look forward to the next stage of the company’s growth,” said Matt Scaife, Partner, Causeway Capital.
Causeway Capital merged Bakers + Baristas with fellow UK bakery café chain Patisserie Valerie in March 2020. The Irish private investment firm said the brands would benefit from shared resources across baking, coffee and customer services, with each firm retaining its brand identity and distinct proposition.