Taylor St Baristas has agreed to the sale of its eight existing coffee shops as it continues its transition from retailer to “full stack coffee business”, MCA understands.

The speciality coffee shop operator, which has just launched an equity fundraise on Crowdcube targeting £750,000, revealed in an investor deck it is set to sell the shops, all in London, to an unnamed speciality operator.

This will allow Taylor St to concentrate on its partnership with Sodexo, and other new business, and expand its wholesale business and ready to drink (RTD) coffee products.

Chief executive Nick Tolley told MCA the fundraise, which values the business at £11m, was part of an ongoing pivot for the business from its original core business of operating coffee shops, towards a vertically integrated coffee group.

The group will move to an asset light model, with joint ventures and partnerships in offices, hotels, airlines, and leisure facilities.

The partnership with Sodexo will see it open more than 100 branded Taylor St cafes, and a further 300 cafes under proprietary brand Chapter & Verse.

Taylor St will also be Santander’s UK coffee partner, and help turn its branch network into café-led co-working spaces.

Tolley told MCA: “It’s not that were no longer doing cafes, or we don’t see cafes as a key way to engage with customers or the public.

“But in terms of the profile and shape of the business, it’s more like a speciality version of Illy or Lavazza, than a Starbucks or Costa. We are very much moving into a full stack coffee business.”

Tolley said there was a pipeline of 10 sites with Sodexo, including London, Leeds and Calgary in Canada.

The fundraise is Taylor St’s second, after the company’s coffee bond with Crowdcube raised £1.8m.

He added: “As an instrument for raising money, and engaging with the public and customers, we found crowdfunding a very effective tool. Frankly it seems easier too – though it could be a spectacular failure and might not work. Our experience of using high street banks has not been great. They’re like dinosaurs they’re so slow. It felt like an instrument that was more attuned to what were trying to achieve as business.”