Zest was set up to meet the burgeoning demand for healthy drink and snack alternatives to the overheated coffee and sandwich bar markets. The company achieved outstanding entrepreneurial growth in its first two years but needed institutional funding to reach its stretching growth targets.
Sarah Carter, MD said “We knew funding would be difficult due to our size and the relatively untested nature of the market. We are at the leading edge of our market and we needed help and advice from a specialist company that could guide us through the process. We are delighted with Pace Equity’s achievement in placing the funding, with the valuation achieved and the relationship that we have forged with our new investor partners, Chrysalis Ventures.”
The deal will give Zest the opportunity to secure a number of new sites in key locations and build on its position as the pre-eminent and most rapidly growing juice bar chain in the UK today.
Ken Graham of Pace Equity commented “We were thrilled to play our part in the growth of this exciting new company and were most impressed with the passion and enthusiasm of the management duo of Sarah Carter and Ewan Tilbe. We look forward to a long working relationship supporting their growth into the future, as Pace Equity has over many years, with a significant number of our highly valued clients.”