global tea and coffee exchange limited, a Manchester, UK-based tea brand, has received a venture capital investment of undisclosed amount from the North West Fund for Venture Capital.
The company intends to use the funds to accelerate the growth of the brand in the UK & other international markets through marketing and new product development, and management team building.
Founded 12 months ago by Adam Soliman, the company, which trades under the brand name Charbrew, has developed a range of fruit and novelty blended premium teas for the retail and catering sectors.
Charbrew has secured contracts with more than 50 independent retailers such as Booths Supermarkets, Sainsbury’s and Casino, a chain of French supermarkets, US-based Dean and Deluca, a specialist food company and Lulu, a Middle East-based chain. An online e-commerce site sells products by mail order.
The company has also incorporated a green policy into its manufacturing and distribution processes.
In addition to the funding, Chris Hook, an experienced food and beverage entrepreneur, has joined the company’s board as Chairman.
The North West Fund for Venture Capital is a sub-fund of the £185m North West Fund that is financed by the European Regional Development Fund (ERDF) and the European Investment Bank (EIB).
FinSMEs
23/09/2011