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Mon 10th Oct 2022 - Exclusive: investors grab a slice of Fireaway valuing the company at £18.7m
Exclusive – investors grab a slice of Fireaway valuing the company at £18.7m: Fast pizza brand Fireaway, the Mario Aleppo-led business, has secured new investment from six new backers, which values the company at £18.7m, Propel has learned. Aleppo has until now been the sole shareholder of the company, which he founded in 2017 and currently operates 126 sites in the UK, plus a site each in Ireland and Holland. He said each investor is “taking 1% of the company at £187,000 per percent giving the company a valuation of £18.7m”. Of the six new shareholders, five are based in the UK and one in Italy. It is understood the new funding will be used to improve the tech side of the business along with “an aggressive marketing campaign”. Earlier this year, Aleppo told Propel that he sees the potential for the brand to grow to 500 sites within the next ten years. The company has a good mixture of “personal, family and corporate franchisees” and Aleppo said the business was attracting franchisees from other more established franchised brands. He said: “I look at some of our more established competitors and I think there is a limit of how many sites you can have before you start stepping on your franchisees toes. Realistically, I think that is around the 500-site mark. I am comfortable with that figure.” Earlier this year, Fireaway made its international debut with a site in Amsterdam, while master franchisees have also been signed up in Canada, France, Germany, Bangladesh, Pakistan and India. Fireaway, which is a “Subway-style” pizzeria concept that offers true Italian pizza in just 180 seconds, made its debut in Mitcham, south London, in 2017. Aleppo told Propel he would not rule out launching another complimentary concept to Fireaway in the future. He said: “I think we have found a good space, which is between quick service and fast-casual/casual dining.” Fireaway features in Propel’s UK Food and Beverage Franchisor Database, which is an exhaustive guide to the companies offering a food and beverage franchise in the UK and is available exclusively to Premium subscribers. The latest edition features 155 companies and almost 70,000 words of content, providing insight on the offer, locations, cost and other key details. The database is updated every two months. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email to upgrade your subscription.

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