London-based Scandinavian café concept Nordic Bakery is back on the acquisition trail to find its next site and remains on track to build an estate of 10 cafes across London, M&C Report has learnt.
The group is exploring options to raise funds to open more cafes across central London and has focused on growing its current offering to present an attractive option to investors.
Miisa Minsk who leads the company told M&C Report the fourth Nordic Bakery will open in Summer 2015 regardless of funding. She said “the wheels are in motion” to acquire a central London site.
Minsk said the company is in a strong position for continued expansion: “For the first eight months of our financial year from March until three weeks ago like for like sales were up 24% from last year across the three sites.”
The group saw the same level of growth for the previous period, Minsk said although there are monthly variations between the stores growth is settling at this point long-term.
The company has three cafes serving Scandinavian bakery products for take away and to eat in at Golden Square, Soho, and New Cavendish Street and Dorset Street in Marylebone.
Mink came on board with the company as an angel investor when Nordic Bakery had been trading for 18 months. She worked on brand and product development prior to becoming chairman.
