Starbucks UK franchisee The Magic Bean Co is looking to grow its 24-site business of drive-thrus to 200 sites over the next five years.

The ambitious expansion plans come on the back of a new £10m support package from HSBC.

Established in 2014, the Swansea-based business has current sales of £17m year is has plans in place to open nine Starbucks outlets in the UK this year.

“As more and more companies enter the drive-thru market, we are marking an exciting new chapter with this funding, which will allow us to accelerate our rate of growth,” Leon Esfahani, chief executive, The Magic Bean Co, said.

Warren Lewis, HSBC UK head of corporate banking for Wales, added: “The demand for drive-thru and grab-and-go services continues to grow across the country and the well-managed Magic Bean team are poised to take advantage.”

 

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