Pull’d, a London-based food-to-go operator, has launched a second equity crowdfunding campaign on Crowdcube to raise £350,000 with an equity offer of 36.42% as it continues to expand in the UK. The company previously secured £102,230 from 107 investors through the funding portal.
The company’s description reads:
“Pull’d is a fast casual dining and food-to-go operator in London focused solely on slow cooked meats. We serve delicious, tender, slow cooked pork, beef and chicken on a range of bases including rice, salads, wraps, baguettes and brioches, with signature sauces that we make from scratch, as well as freshly squeezed juices.
“Inspired by a relaxed and contemporary Australian way of life, we are unconstrained by specific ethnic styles of food (American, Mexican, BBQ etc) and care more about how the finished product tastes. Pull’d brings together a fusion of flavours, with influences from the U.S., Asia, Latin America, Europe and of course, Australia. Our tender pulled pork and beef is cooked for at least 14 hours and our chicken poached and then pulled by hand.”
Time Out’s Richard Ehrlich stated in his previously Pull’d review:
“Pull’d is just a brioche slider’s throw away from Pret, among other fast-food chains. Why should you go here? Because, apart from a relatively limited choice, the food here beats any chain fare. And a small Pull’d sandwich is a filling meal – which means more bang for your buck. (When was the last time you were unable to finish a sandwich from one of the chains?) Pull’d is a 20-second walk from Mansion House tube. Stroll on over next [time] you’re in the City.”
Pull’d’s first site was established in September 2014 right in the heart of London. The new site will be just outside of the business’ catchment area. Pull’d is also considering other parts of the city, which includes Clerkenwell, Old Street, London Bridge, Tower Hill and Canary Wharf.
If successful, here’s how the campaign’s funds will be used: £100K in build costs, £50K in site premium and £25K in rent deposit (6 months) for the full year reflected in cash flow to investing (£175K). One-off costs related to new site are reflected in the P&L and cash flow to operations and include a year worth of rent (£50K) and one-off fees (£25K).
The new initiative is set to close at mid-April.
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