BEAR, the independent coffee brand founded by two entrepreneurs, recently closed a round of fundraising with private equity firm Clark Group. The investment will enable BEAR to open new stores and further its growth, aligning with the founders’ original vision to establish a UK coffee and lifestyle brand.
“We’re taking Shoreditch, giving it a pair of walking boots, and taking it for a trek in the Peak District. We recognise who we are and where we have come from, and we’re combining that with all of the best bits of our collective inner-city influences. We’re proud to be from the Midlands, but we’re always keen to explore,” said co-founder, Craig Bunting.
Clark Group have a wealth of experience in the hospitality and consumer retail industries, making them a valuable partner for BEAR. The investment firm’s portfolio includes well-known brands such as ThruDark, Wild Nutrition, Press, Bike Shed, and Bremont, among others. Clark Group provides financial support, hands-on guidance, and mentorship from industry leaders, offering a combination of equity and expertise.
“We recently invested in BEAR to support them and their ambitious growth plans. They have an outstanding management team and an incredible, high quality customer offer which underpins the BEAR brand appeal. This will be complemented by the skills of Clark Group as BEAR continues to grow its number of locations,” said CFO, Ed Formstone.
BEAR is still considered a start-up, yet they have quickly grown into a leading coffee brand with ambitious plans. Whilst the COVID-19 pandemic temporarily slowed their progress, the brand remains optimistic about the future. The company currently operates five stores across Derbyshire, Staffordshire & Cheshire and has previously operated concessions within popular retail locations such as Jack Wills in Soho and Paperchase on Tottenham Court Road.
The partnership with Clark Group allows BEAR to further align their strategy and link brick-and-mortar stores with online e-commerce.
Craig Bunting added: “I see an incredible opportunity to build strong relationships with our guests, moving them from loyalty to advocacy. We will do this by creating products they can enjoy everywhere, whether in-store, at the office, on the go or at home, which excites me.
“High Streets have struggled for a long time, exacerbated by the pandemic. However, I am passionate about investing in our local communities. We will do this by using our online platform to drive footfall onto local High Streets and into our neighbourhood stores through a click & collect service, creating the most hospitable e-commerce brand of the future.
“We are thrilled to partner with Clark Group Investments and bring BEAR to the next level. Our vision is to become a leading brand within the hospitality & e-commerce sector. Their experience in hospitality and retail, combined with their hands-on support, will be invaluable as we continue to grow.”
