Retail and hospitality business Moonglow Trading has secured a seven-figure funding package from HSBC UK to open up to four new coffee shop franchises including Cardiff and Oxford, creating over 30 jobs.
Moonglow Trading is a prominent player in the retail space, having built and sold a 30-store Tiger Stores brand. The deal with HSBC UK will enable Moonglow to expand its hospitality offering by opening up to four Black Sheep Coffee franchises including in South Gate House in Cardiff and on the High Street in Oxford.
As well as creating new jobs for part- and full-time staff, the new franchises add to Black Sheep Coffee’s portfolio of 54 stores across the UK, making it the fourth largest coffee-led operator in the country.
Jonathan Edwards, Director of Trading at Moonglow Trading, commented:
“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.
“HSBC UK was a great support throughout Covid, and the bank continues to show it’s keen to invest in businesses with a unique proposition.”
Anthony Couzens, Relationship Director at HSBC UK, said:
“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.”
Anita Roberts, Franchise Director at HSBC UK, said:
“We are delighted to have supported our client with this multi store lending opportunity. The team wishes Moonglow success as they continue to roll out stores across England & Wales, creating many jobs and opportunities within local towns & communities”.
Since it was established in 2013, Black Sheep Coffee has become known for its unique flavour profile, using speciality grade Robusta coffee beans which contain twice the caffeine content to typical coffee beans. The brand also has a heavy tech focus to create fast and efficient access to high-quality coffee, like online ordering, availability across online delivery platforms, and personalised coffee subscriptions.
