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UK: Original Smoothie Company eyes expansion

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The Original Smoothie Company is offering up to 4m shares of its enlarged issued share capital in a bid to raise around GBP500,000 (US$998,000) in an initial private placing.

The UK-based drinks company, which is pursuing an "aggressive" roll-out strategy through a combination of franchising, licensing and events promotion, has already sold 24 franchises and will use the funds to finance continued expansion, it said today (21 July).

"Our franchise strategy is enjoying rapid expansion and the current placing will enable us to invest further in distribution and marketing, including increasing the number of outdoor events supplied by The Original Smoothie Company," said managing director Julian Gilbertson.

Assuming the placing is fully subscribed, the company will have an estimated capitalisation of GBP1.75m. The shares are being offered for sale through City One Securities.


Sectors: Soft drinks, Water

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