In Press - MEN; TheBusinessDesk.com - Yogberries

10-Jan-2012

MEN - 10/01/2012

Marc Duschenes, the former chief executive of investment fund and property management business Braemar Group, has taken a stake in a frozen yoghurt retailer which will enable the firm to step up its expansion plans.

 

Mr Duschenes has invested in Yogberries, which has outlets in Hale and Wilmslow and plans to open three more branches in the spring.

 

Yogberries, which was established in 2010 by Sarah Bradley and Matthew Agass, aims to open at least one store per quarter thereafter.

 

The deal will see Mr Duschenes take a stake of up to 29.9 per cent in Yogberries over the next three years, and he has joined its board with immediate effect. Financial terms were not disclosed.

 

He co-founded Hale-based Braemar in 2001 and floated it on the Alternative Investment Market in 2005.

 

It was bought by wealth management firm Brooks Macdonald Group in June 2010 and Mr Duschenes later bought out 10 property funds from the business through his private investment vehicle Bayfield Capital.

 

The entrepreneur, a former retail analyst, said of his investment in Yogberries: “It was my kids who dragged me to the store initially.

“What I saw was a young retail business with extremely talented directors, an incredibly strong brand and merchandise offering and a queue of vibrant affluent customers at the door.

 

“I felt that I could assist Matthew and Sarah with investment and a little guidance. Fortunately a strong relationship was formed quickly and I look forward to seeing the chain grow.”

 

Sarah and Matthew met while travelling in Australia, where they came across the frozen yoghurt concept and decided to set up their own business in the UK. Their first shop opened in Hale in early 2011 followed by the Wilmslow branch last July. Yogberries expects to achieve sales of more than £1m in its second full year of trading.

 

Sarah, the chain's managing director, said: “Marc's investment will allow the chain to grow at two to three times the pace that we had imagined.

 

“His investment and background in retail will hopefully enable us to execute a very successful business model.”

 

Lawyers at Manchester firms Kuits and Beachcroft advised on Mr Duschenes' investment in Yogberries.

 

TheBusinessDesk.com

THE former chief executive of Braemar Group has taken a stake in a frozen yoghurt business which trades from two outlets in Hale and Wilmslow.

Marc Duschenes said that his undisclosed investment for a stake of up to 29.9% in the business will allow it to embark on a rapid roll-out, with three new stores planned to open during spring 2012 and at least one new outlet every three months thereafter.

Yogberries was set up by Sarah Bradley and Matthew Agass in 2010. It sells a range of fat-free frozen yoghurts and is on course for sales of £1m during its second year of business.

Mr Duschenes, who is also chairman of fund management group Bayfield Capital, said: "It was my kids who dragged me into the store initially.

"What I saw was a young retail business with extremely talented directors, an incredibly strong brand and merchandise offering and a queue of vibrant, affluent customers out the door.

"I felt I could assist Matthew and Sarah with investment and a little guidance.
"Fortunately, a strong relationship was formed quickly and I look forward to seeing the chain grow."

Bradley, who is managing director, said the investment "will allow the chain to grow at two to three times the pace we had imagined".

Yogberries was advised on the deal by Kuitsand Mr Duschenes was advised by DAC Beachcroft.

 

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