Posted by Katharine Mortimer, Partner
Pioneering lifestyle store secures private equity investment with support from Royds Withy King
The Corporate team at Royds Withy King has provided equity investment support to the entrepreneurs behind a new kitchen, food market and lifestyle store which will open this summer.
The deal comes as construction on the new business from Teals begins on the A303 at North Cadbury in Somerset. The exciting venture is aiming to connect local communities to local producers, and will provide the first electric car-charging, single-use plastic free store on the regional route, which links London to the West Country.
The investment is enabling Teals directors Nick and Ash Sinfield to establish their new business, which they anticipate will make a meaningful contribution to the rural economy.
Katharine Mortimer, a Partner in our South West Corporate team, advised Teals and commented: “We’re delighted to have been involved in advising our long-standing client on the terms of this equity investment.
“We have a proven track record in working with entrepreneurs however it’s particularly exciting to use our private equity investment expertise to support Nick and Ash on such an innovative business with solid green and sustainable credentials.”
We are also advising the team on the property transaction. The deal was assisted by Old Mill accountants and financial experts.
Nick Sinfield said: “We’re hugely excited to be bringing this new store to North Cadbury, it gives us a great platform on which to celebrate the abundance of brilliant local producers and makers, and offer nearby towns and villages an alternative to supermarkets.
“I’d like to thank the Royds Withy King team for all their amazing work. It’s been brilliant having their expertise and support, and I have loved working with them.”
Teals is set to open in late summer 2020.
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