Leeds-based SME lender Fresh Thinking Capital has provided funding to support the acquisition of a coffee roaster.
Rinaldo’s Speciality Coffee and Tea Ltd was purchased in a six-figure deal by Jayne Hynes after the founder, Rin Colombi, took the decision to retire.
Rinaldo’s roast 100 per cent Arabica speciality coffee from its operation at Lakeland Food Park on the outskirts of Kendal.
The business ethically sources coffee from small-scale suppliers from around the world. The beans are roasted using a Giesen roaster, originally purchased through a crowdfunding raise in 2015.
Rinaldo’s also retails high-end espresso machines for the home and commercial markets. It employs four full-time staff people, all based on site in the Lake District.
Jayne Hynes, managing director of Rinaldo’s, said: “I was looking for a business that shared my passion for ethically sourced, high-end, sustainable products, and Rinaldo’s is a great fit.”
Rin Colombi, said: “Jayne has a fantastic vision for the company, and it’s heartening to know that the business we’ve built over the years has a bright and secure future.”
Funding was provided by Leeds-based Fresh Thinking Capital to support the acquisition and initial growth plans.
Andrew Walls, director of Fresh Thinking Capital, said: “We established Fresh Thinking Capital to help entrepreneurs bring their vision to life and back great companies like Rinaldo’s. The coffee market continues to grow, with Brits spending nearly £3bn a year on coffee, tea and cacao. I am confident that Rinaldo’s is well positioned for expansion.”
Stephen Johnson, UK director at specialist broker TSF Finance, added: “Jayne has a great vision for Rinaldo’s and I’m confident that the funding provided by Fresh Thinking Capital will fuel growth into the future.”
Fresh Thinking Capital was advised by Francesca Sykes from Clarion’s banking and finance team.