Fuel Juice Bars, the Kings Park Capital-backed smoothie and juice concept, has named Chris Sullivan as its new chief executive to oversee its continued expansion, M&C Report can reveal.
The company was named Horizon’s number one brand to watch in its survey of fastest growing fledgling operators published on Friday after growing to 22 sites since 2011. The group has secured a site at Plymouth’s Drake Circus to open before the end of this year to bring the estate to 23.
Sullivan, former chief executive of Balls Brothers and managing director of Harry Ramsden’s, has been a non-executive director advising founder Jamie Weston on the brand’s roll out and operations since 2012 before being appointed chief executive.
Weston said: “I am delighted that Chris agreed to take on the role of CEO at Fuel Juice Bars. He has led the expansion phase of the business in the last year, which will see the opening of our 23rd site in Plymouth before Christmas. Chris has an impressive track record in the hospitality sector and provides continuity and exceptional leadership as we continue to develop the business, whilst I have moved into a broader strategic role on the Company’s Board.”
Fuel Juice Bars has announced its sales have grown to £5.2m in the 12 months to September 2014, up from £3.1m the previous year. To September 2013, EBITDA increased 56% to £0.7m.
Sullivan said: “I’m excited to be leading the business through its growth phase as we continue to expand the Fuel Juice Bars brand nationwide. We are now building a truly national brand trading from Inverness to Plymouth and with a presence in major cities such as Glasgow, Manchester, Leeds, Birmingham and most recently Cardiff. It is a fantastic time for the business, with trading continuing to be strong. In the financial year to the end of September sales were up 70% on the prior year, driven by the opening of new sites ahead of expectations, the purchase of four sites trading under the Zest brand and also excellent like-for-like growth of 18% from the older stores.”
Of the Horizon’s survey of brands, Sullivan said: “We are absolutely delighted to take top spot in the Horizon Survey. Not only does it demonstrate our potential to expand in new locations, we are also growing sales in our core stores at the same time. It’s a real tribute to the hard work and enthusiasm of our store and operations teams and a testimony to the successful collaborations we have with our trading partners.”
