Foresight invests £3.45m in Mowgli Street Food

The fresh funding will enable the company to invest in the roll-out of new locations in Birmingham and Leeds.

As part of the deal, Matthew Peck, formerly head of finance at Hutton Collins-backed burger chain Byron, has been appointed as finance director at Mowgli. Cafe Rouge founder and Hawksmoor chair Karen Jones has been appointed chairperson.

Santander provided banking facilities to support the transaction.

Company
Founded in 2014 and headquartered in Liverpool, Mowgli is a chain of Indian street food restaurants. The business focuses on healthier dishes compared to those provided by traditional Indian restaurants in the UK and offers ranges of gluten-free, vegetarian and vegan dishes.

Mowgli currently operates from three locations, two of which are in Liverpool, while the other is in Manchester. It plans to open its Birmingham and Leeds sites by the end of 2017.

People
Foresight Group – Claire Alvarez (senior investment manager).
Mowgli Street Food – Nisha Katona (founder).

Advisers
Equity – Addleshaw Goddard, Andrew Green, Katie Parker, Becky Dove (legal); BDO, Chris Heatlie, Rob Dawes, Sean Mitchell (financial due diligence); RPL, Geoff Rampton, Suzy Urch (commercial due diligence).
Company – RSM, Rob Donaldson, Connor Agnew (corporate finance); Grant Thornton, Will Baxter, Alex Harris (corporate finance).
Management – O’Connors, John Spofforth, Christina Millan (legal).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Foresight Group