Doughnut specialist Crosstown is trying to attract investment for the new phase of its growth, including estate expansion across the UK and beyond.
The brand has grown from a street food stall to become an omni-channel retailer with 28 sites across the capital (including trucks, kiosks, and pop-up stalls), as well as stores in Cambridge, Oxford, Bristol and Bath. It also offers online nationwide ordering and supplies events, catering, and wholesale segments.
Crosstown produces a range of sourdough doughnuts made fresh by hand daily, and has added specialty coffee and luxury small-batch ice cream to its store offerings.
Along with increasing its domestic retail footprint – one recent addition was a permanent kiosk at Battersea Power Station – Crosstown has revealed initial growth plans include opening new stores in the Middle East.
“As we seek to expand our offering into more locations across the UK and grow internationally, the time is right to bring in new investment to help us fulfil our growth aspirations,” commented Crosstown CEO Howard Ebison, who was appointed to the leadership role just over a year ago.
Crosstown confirmed that M&A specialists from Interpath Advisory have been engaged to advise the business through the investment process.
Crosstown was co-founded in 2014 by Adam Wills and JP Then, who started at Leather Lane Market in the Holborn area of London before opening a first shop on Broadwick Street in London’s Soho district.
To help mark its 10th anniversary this year, Crosstown has launched a ‘Decade of Dough’ campaign that features a series of in-store events, collaborations, and giveaways.
The company, which claims to be known for its flavour innovation, said customers were asked in January which doughnut variety they would like to see return to menus. The Sea Salt Caramel & Banana Cream triumphed and is available until 1 May.
Meanwhile, a new flavour – Peanut Butter Caramel & Banana – has been specially created for the anniversary and will be rolled out at stores from next month. The launch will be accompanied by an 800-doughnut giveaway across four of Crosstown’s London locations on 3 May.
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