Moonglow Trading, a franchisee based in the UK, has obtained a seven-figure funding package from HSBC to support the expansion of Black Sheep Coffee across the United Kingdom.
The franchisee is set to open four new coffee stores in Cardiff and Oxford, creating 30 new employment opportunities.
HSBC UK relationship director Anthony Couzens stated, “It’s been great to support the team at Moonglow over the years with a range of successful businesses, and I have no doubt this partnership with Black Sheep Coffee will follow the same pattern.”
Headquartered in Cheltenham, Moonglow Trading has positioned itself as a holding company specializing in franchise lifestyle brands.
Moonglow trading director Jonathan Edwards stated, “Becoming a franchisee for Black Sheep Coffee has allowed Moonglow to use its experience in the retail and catering space to work with a unique coffee business with an upward growth trajectory.
“The move also fits with our aim to work alongside businesses that are shaking up traditions, using innovative tech for growth, as well as allowing us to explore opportunities outside London.”
According to the World Coffee Portal, the Black Sheep Coffee chain, founded in 2013, currently operates 73 units in the UK and a solitary location in Paris, France.
With an additional 27 stores in development in the UK, Black Sheep Coffee entered the US market in 2023, inaugurating two new stores in Texas.
The franchise is poised to make its entry into the Middle East market by establishing four stores in the United Arab Emirates.
Through a franchise agreement with Al Farran Investment, Black Sheep Coffee aims to open 250 stores across the Middle East by 2037.