Causeway Capital is pleased to announce that Bakers + Baristas, a Causeway Capital Partners I LP portfolio company, has secured a new six-year committed term loan from AIB to support the business as it continues to invest in new and existing locations.
Bakers + Baristas is a branded bakery and coffee operator, famous for baking its muffins fresh in store each day. There are more than 65 Bakers + Baristas located in top shopping centres and outlet villages across the UK and Ireland. The Company plans to open a further 5 locations over the next 12 months with a mixture of company owned and franchise opportunities under consideration.
Having recovered strongly post-Covid and demonstrated impressive like-for-like growth across the UK & Ireland, Bakers + Baristas is expected to deliver sales of €22m sales in the current year. Headquartered in Limerick, the business has over 300 employees and is led by James Fleming (CEO) and Dermot McMahon (CFO).
Matt Scaife, partner at Causeway Capital, commented:
“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.”