Private equity firm YFM Equity Partners has invested £3 million in Friska, a Bristol-based chain of casual dining restaurants.
Friska was founded in 2009 by Griff Holland and Ed Brown and initially traded from a single site in central Bristol.
The aim of the business is to provide food made from fresh, quality, and responsibly sourced ingredients, as well as delivering high service standards and a desire to make a positive social impact through the way it operates. Its menu includes soup, salads, wraps and noodles.
The company now operates from a total nine outlets in Bristol, Birmingham and Luton Airport. The new funding will be used to open more restaurants in UK regional cities, with the aim of doubling the number of stores over the next three years.
As part of the deal, Steve Hill, former CEO of Wagamama, the restaurant chain, and current non-executive chair of Pho, the Vietnamese restaurant chain, will join Friska as non-executive chair.
Charlie Robinson, Investment Director at YFM, said: “We are thrilled to be supporting Griff and Ed on the next stage of their journey with Friska. They have built a fantastic brand with a high-quality breakfast and lunch food offering which customers love. We see significant opportunity for the business to expand into new cities to bring the Friska brand to a new audience.”
Griff Holland, Co-Founder of Friska, added: “Over the past seven years, we have been honing our menu, the way our stores look and feel, our brand and of course our operating systems. We feel confident that now is the right time to bring our feel good food (and coffee) to cities around the UK and working with YFM and Steve will allow us to do this faster and better, just like our food.”