The Cheltenham-based franchisee will use the ‘seven-figure’ HSBC UK investment to open Black Sheep Coffee stores in Cardiff and Oxford
Black Sheep Coffee currently operates 73 stores across the UK | Photo credit: HSBC UK
Moonglow Trading has received a ‘seven-figure’ funding package from HSBC UK to become a franchisee of Black Sheep Coffee and open an initial four stores across the UK.
Cheltenham-based Moonglow Trading, which describes itself as a holding company for franchise lifestyle brands, said the investment will enable it to ‘expand its hospitality offering’ and open Black Sheep Coffee stores in Cardiff and Oxford.
“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,” said Jonathan Edwards, Director of Trading, Moonglow Trading.
Founded in 2013, Black Sheep Coffee currently operates 73 stores across the UK, as well as a single site in Paris, France.
The coffee chain, which has 27 UK stores in the pipeline, was expected to make its US debut this year with two stores in Texas and is also poised to enter the Middle East with four stores in the UAE. Black Sheep Coffee plans to open 250 stores across the Middle East within 15 years as part of a 30-year franchise deal with Al Farran Investment.
Moonglow Trading was established in January 2023 by Edwards and his business partner Simon Hall. The pair previously built and sold a 30-store network of Flying Tiger Copenhagen retail stores.