BB’s Coffee & Muffins chain owner sees profits double
Brentwood Investments led consortium which acquired chain for €10m last year
Brentwood led a consortium of investors that acquired BB’s Coffee & Muffins chain of more than 50 cafe outlets from Denis O’Brien last May
Profits at Brentwood Investments, which led a consortium that bought the BB’s Coffee & Muffins chain from businessman Denis O’Brien last year, more than doubled in the 12 months to the end of June 2015.
Abridged accounts filed with the Companies Registration Office show the boutique investment firm recorded accumulated profits that rose from €5.59 million to €12.6 million. The company is headed by well-known health sector and IT investor David Raethorne.
Employment costs, which include wages and salaries, rose from €143,189 to €171,377, while directors’ remuneration was stable at €128,808.
Brentwood led a consortium of investors that acquired BB’s Coffee & Muffins chain of more than 50 outlets from Mr O’Brien last May. The group is believed to have paid about €10 million for the firm.
Mr Raethorne recently established Causeway Capital, a new private equity fund targeting Irish SMEs looking for investment for growth purposes in the €2.5 million-€10 million range. He is also director of Clonakilty-based HR software firm Global Shares and of Lough Gill Distillery, a craft distillery which to be based at Hazelwood House in Co Sligo.