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Hubbox to roll out across the South West after £2.2m investment

02 March 2017 by
Hubbox to roll out across the South West after £2.2m investment

American-style restaurant chain Hubbox has received £2.2m worth of investment to open more sites across the UK.

The first investment round was completed in October last year with angel investors Mark Harper and Michael Wodskou committing to the company. In January 2017, private equity fund Provenance Investment Partners invested further funds into the company.

The total investment is £3.2m. Hubbox, which currently operates four sites in the South West, aims to use the money to open more sites around the country. It will begin with a former Las Iguanas site on Whiteladies Road in Bristol, which is due to open this Spring.

Hubbox began in St. Ives and now has restaurants in St. Ives, Truro, St. Austell, Plymouth and Exeter.

The restaurants offer a range of burgers, hot dogs and beers.

Co-founder Richard Boon said: "These investments represent an exciting step change in the growth of Hub Box. In addition to providing important growth capital we now have the benefit of boardroom experience from highly experienced individuals, Mark Harper, Michael Wodskou and Provenance Investment Partners fund director Simon Henderson."

Henry Maples of Murrell Associates, who advised on the transactions, said: "Hub Box is a brilliant example of a creative Cornish business and we are really excited to see new Hub Boxes rolled out across the UK with the support of these angel and private equity investors."

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