The co-founder of Degani Bakery Café says the Victoria-based chain will be able to “crystallise its growth opportunities” following an investment from NBC Capital, which owns Eagle Boys.
Degani Bakery Café was founded by George Vasiliadis and George Pezaros in 2000. Since then, the chain has grown from one store to almost 60, including stores in the Melbourne CBD.
The chain isn’t fussy about where it sets up, opening stores in shopping centres, hospitals, office foyers and train stations.
There are also four stores located in the Queensland town of Rockhampton. These stores operate under a licensee network.
Degani describes itself as an industry leader in gourmet foods – selling items such as cakes, muffins and pies – and “impeccably brewed” coffee.
According to Vasiliadis, the chain serves 100,000 cups of coffee per week.
But that number looks set to increase, following the announcement Brisbane-based private equity firm NBC Capital has taken an undisclosed stake in the business.
NBC is also the owner and operator of pizza franchise Eagle Boys Pizza, which has more than 300 stores throughout Australia. Eagle Boys was purchased by NBC in 2007.
NBC is also a former investor in Fenix Fitness Clubs.
Vasiliadis and Pezaros will maintain their roles as directors and managers of Degani, and will also remain shareholders.
According to Vasiliadis, NBC’s backing will enable Degani to expand further.
“This partnership will allow the Degani Bakery Café brand to strengthen its current network of stores, and expand across Australia and internationally,” he told Inside Retail.
“NBC will be providing support and expertise that will assist Degani to crystallise its growth opportunities, and will create further brand equity to our system.”
NBC Capital was contacted by StartupSmart but declined to comment.
This article first appeared on StartupSmart.