Boost juice bars to open eight new stores

The funding will bring the total number of Boost bars in the UK to 40.

The business, which sells healthy alternatives to soft drinks and snacks, was established in the UK in 2007 by husband and wife team Richard and Dawn O’Sullivan.

Since 2013, the company has expanded rapidly with the number of outlets rising from 10 to 32 - seven of which opened in the past year alone in locations including Cambridge, Southampton and Sheffield.

TD4 Brands, the parent company of Boost Juice Bars and The Shake Lab, is expected to generate sales in excess of £13m this year - up from £5m in 2013.

“Three years on from their original investment, we are really pleased that BGF shows continued support and confidence in the successful expansion of our company,” Richard O’Sullivan, CEO, TD4 Brands said. “It’s a great example of both the business and the investors delivering on their promises.”

Neil Inskip, BGF, who sits on the board of TD4 Brands added: “Richard and Dawn demonstrate incredible leadership, sound judgement and ambition for the growth of the business. That is something we are keen to support and we are delighted that the additional funding will help accelerate the growth of the business even further.”

Boost was founded in Adelaide in 2003 by Janine Allis and has expanded to more than 20 countries including Germany, South Africa, Hong Kong, China and Russia.

As well as setting up Boost in the UK, the O’Sullivan’s along with chairman Bill Holroyd and finance director Martin Burrill were the team behind Millie’s Cookies, which grew to over 100 stores before they sold it to Compass Group in June 2003 for £24m.