Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Business
Jon Robinson

Costa Coffee franchisee uses £7m to add 17 new sites to portfolio

A Costa Coffee franchise holder has used a funding pot worth more than £7m to add 17 extra sites to its portfolio.

Altrincham-based Sim Trava accesses a £7.1m funding package from HSBC UK to fund the expansion which included four drive-thru branches, three retail parks and 10 high street outlets.

The company is now supporting 350 existing jobs across the North West and 625 in total.

READ MORE: Bonuses total £1.5m at national law firm Weightmans after 'strong year'

The business added that it is anticipating a 80% increase in turnover over the next 12 months.

Simon Vardy, owner and managing director at Sim Trava, said: "Funding from HSBC UK has facilitated immediate growth for the franchise and allows us to focus on providing the best possible experience for our customers, whilst supporting our existing Costa Coffee teams currently in place.

"This investment will bring a boost for local communities across the North West, we are always looking for new people to join our team and encourage those interested in opportunities to contact us. We look forward to welcoming more visitors to Costa Coffee across our new branches for many years to come."

Zubayr Atcha, global relationship director at HSBC UK, added: "The 17 new Costa Coffee sites across the North West will enable significant growth at Sim Trava, and also create many new jobs across the region.

"Sim Trava is a great example of a business that has successfully navigated the pandemic and has come out of the other side stronger. We look forward to seeing Sim Trava continue to grow and deliver a quality service across its branches."

Established in 2004, Sim Trava was founded by Simon and Tracy Vardy and now operates 57 branches of Costa Coffee across the North of England.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.