AMT Coffee

AMT Coffee

March 16, 2011 04:30 ET

AMT Coffee Raises GBP 1 Million for Expansion

LONDON, UNITED KINGDOM--(Marketwire - March 16, 2011) - Proving that great businesses can find money even in today's tough market, AMT Coffee, which was last week voted the most ethical coffee chain, today announced that it has completed a million pound finance-raising deal with Close Leasing. The cash will be used to invest in new sites and the Company is poised to become a major force in the coffee industry. The Company was advised by Capitas Finance.

Leading the deal for Close was Director Tom Dramby who said "we are very pleased to be supporting AMT Coffee as it continues to grow. I am a customer and experienced their superb service personally, when the barista at their Broadgate bar knew my order after just two visits! We like the business and were impressed by the team."

AMT Coffee CFO Fred Edwards put the deal together and said "AMT Coffee is all about customer service and the Close team understood the fundamentals of our business quickly. That helped the deal go through very smoothly. Now we are really open for business and looking to scale rapidly."

Allan McCallum-Toppin, Director and one of the original founders of AMT Coffee, said "the whole team is very excited by this deal. We want more and more people to experience our unique blend of high quality, ethical products, value for money and great service and now we have the means to do it. It's a fantastic 18th birthday present for our Company".

COO Jon Hassall, who joined AMT Coffee five years ago from fast food giant McDonalds, is responsible for delivering the legendary AMT Coffee service. He commented "it's great that our backers are also customers so they know we will invest where it matters most – at the sharp end. We've got some exciting plans for the year ahead and Allan, Fred and I look forward to realising them".

Finally, for Allan the deal is a reminder that the long slog is worth it. "When we first started, my brothers and I approached one of the major banks for a £1,500 loan", he explains. "The manager listened to our plan, then informed us that in England people drink tea, not coffee, from china, not paper cups and certainly not whilst wandering around. We didn't get the money. I guess we've proved our point now!"

Notes for editors

AMT Coffee currently has 72 outlets in 4 countries in rail, airport, hospital, university and high street locations.

It was founded in Oxford, UK in 1993, before the major chains came to the UK, by three brothers Angus, Allan and Alistair McCallum-Toppin from Seattle.

AMT Coffee has been 100% Fairtrade since 2004. In March this year it was named the most ethical coffee chain by Ethical Consumer.

Despite the terrible economic times AMT Coffee grew by almost 20% in 2010. It now employs over 400 people in 4 countries and at peak times, is brewing 1 espresso coffee every second.

Capitas Finace is an independent, diversified asset and commercial finance company serving both the private and public sectors in the UK and rest of Europe. It advises on the management of existing portfolios, price negotiations, facility structuring and contractual terms and conditions for agreements.

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