Moonglow Trading has received a ‘seven-figure’ funding package from HSBC UK to become a franchisee of Black Sheep Coffee.
The Cheltenham-based business, which describes itself as a holding company for franchise lifestyle brands, said the investment will enable it to “expand its hospitality offering” with the speciality coffee brand.
Moonglow is set to open four Black Sheep Coffee franchises including in South Gate House, Cardiff and the High Street, Oxford.
Black Sheep currently operates 73 stores across the UK, as well as a single site in Paris, France.
Established in January 2023, Mooonglow previously built and sold a 30-store network of Flying Tiger Copenhagen retail stores.
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, 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.”
