British investment firm Active Private Equity is set to take a stake in fast-growing gourmet burger chain Honest Burgers, it emerged yesterday.
The venture capital and private equity specialist, which owns stakes in Evans cycles shops and Leon cafes, is reportedly investing £7m in return for 50 per cent of the business.
Active’s Spencer Skinner will become a board member at the company after the deal is completed. Active specialises in investing in entrepreneurs in the consumer, leisure and retail sectors.
Launched in Brixton market four years ago, Honest has since grown to nine restaurants and is expected to add another five in the coming 12 months.
Honest Burgers was founded by Tom Barton, Dorian Waite and Phil Eeles. Retaining shareholdings, the three will continue to run the chain after the deal is complete.
Active declined to comment.