Independent Coffee Company 92 Degrees Secures £1.4 Million Investment To Accelerate UK Growth
An independent coffee company that first opened as a single coffee shop and roastery in Liverpool city centre has secured £1.4 million in investment to accelerate its impressive UK growth strategy.
Established back in 2014 by CEO and co-founder Jack Brewitt, 92 Degrees has more than 100 employees, from heads of departments at its 92HQ, to in-store caffeine dealers and store leaders at 11 sites across the UK from Edinburgh to London.
It also has its own series of popular coffee products online and a monthly in-person subscription service, which has helped to double the scale of the business over the last six months alone.
The brand was originally looking for £920,000 but has ended its funding round with an impressive 52% more.
Speaking from its North West headquarters, Jack said: “We’ve literally roasted billions of beans and sold them across the world to rapidly become known as a nationally recognised independent coffee company. This investment will really help us to accelerate the growth that we have been witnessing over the last three years through the pandemic and cement our future plans.
“We are a community united by our love for all things coffee, working with and fighting for each other at every opportunity as we progress towards our shared goals. Since day one, 92 Degrees’ motivation has been to bring our experience to as many communities as possible and to unite everyone, everywhere, with our love of coffee. This company values and supports the communities that we are part of, and we have learned that recruiting and developing local talent in parallel to championing local suppliers is a winning combination.”
In line with the latest announcement, 92 Degrees has confirmed the launch of a further eight sites, in Scotland, Manchester, Liverpool and London to name a few.
Jack added: “We have targeted doubling our store locations each year for the next two years and we are on track to close 2022 with at least 15 store locations. We will also be completing the development phase of our canned coffees and moving to implement our ambitious retail market strategy.
“We are already actively seeking and negotiating sites for 2023, when we will be increasing to 30 stores and working to unify our online and in-person experience, giving greater user accessibility via our app for instore and online guests. Furthermore, we are developing a very similar experience for our partner businesses via our trade division.”
Although the success of the company is pivotal, the brand is all about people; The 92 Family. Whether it’s the individuals that work within their team or those that they support through local communities. This includes their global efforts and involvement with Project Waterfall, which aims to end the water crisis and provide clean water to those in need.
“I know that a lot of companies say it, but our team truly is like family”, Jack said, “We work hard together, succeed together, and support each other when times are tough. Where we are now is thanks to them – their passion for what we do and what we deliver is unrivalled.”
92 Degrees has already built an impressive reputation within the coffee industry, having been named Best Micro Roaster 2020 - NW England, Best Speciality Coffee Company 2021 - NW England & Best Speciality Coffee.
This was posted in Bdaily's Members' News section by Emma McGee .