Irish food industry investment firm BiaVest has teamed up with the founder of supermarket chain Fresh, Noel Smith, to take a significant stake in Offbeat Donut Co.
According to The Irish Times, BiaVest declined to reveal the value of its investment in the Dublin-based donut company.
Expansion Plans
Offbeat reportedly intends to use the investment to help finance expansion and open outlets outside of Dublin.
According to its new backers, the donut company also intends to expand to the UK, the US and the Middle East.
The Irish Times quotes BiaVest co-founder David McKernan as saying, "The growth of Offbeat Donuts over the past five years has been truly impressive. [Offbeat co-founders] Brian and Sandra [O'Casey] have gone head to head with international competitors and always succeeded."
New Blanchardstown Outlet
The news follows the recent opening of an Offbeat outlet at Dublin's Blanchardstown Centre.
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