YFM Equity Partners has backed the management buy-in of Leeds-based bagel manufacturer and retail chain Bagel Nash, for an undisclosed sum.
Bagel Nash has 11 coffee and bagel bars in Leeds, York, Huddersfield and Manchester, and exports gourmet bagels to 20 countries.
The investment will support the company’s acquisition and help finance its plans for new outlets in the north, north west and the Midlands, as well as helping to grow its wholesale and export trade.
YFM Equity Partners has backed Andy Micklethwaite as the new company’s chief executive and Sara Hildreth as retail operations director. Micklethwaite led the MBI of food manufacturing business Symington’s, growing the business from £17m to a turnover of £55m.
Nigel Barraclough, investment director at YFM Equity Partners, said: “Bagel Nash has a fantastic reputation and is already well established in Yorkshire. We believe there is enormous potential for the business to expand into other regions and look forward to using both our experience and network to help Bagel Nash achieve this ambition.”
Micklethwaite added that there was a huge appetite for a healthier alternative to traditional sandwiches. “We believe that our bagel product can feed that demand. This investment from YFM Equity Partners will enable us to grow our products and open up more sites for our customers throughout the north and Midlands.”
Bagel Nash was was founded in 1987 by Karen and Uri Mizrahi.