Caskade Caterers secures £29m fund to support rollout of new Taco Bell restaurants

Caskade Caterers, the franchise business based in South and East England, has secured a £29.4m funding package from HSBC to support its expansion plans.

The £13m loan, £10m revolving credit facility and £6.4m commercial mortgage will help with the rollout of new Taco Bell restaurants across London and South West England.

The next location to open will be in the capital in summer 2018, with plans to open another three to five stores per annum over the next few years.

The move will see Caskade Caterers CEO, Hamid Ali, add to his existing UK and international enterprises, which currently includes 30 KFC restaurants across Dorset, Sussex and Kent and three hotels in Fiji.

Hamid Ali said: “Continuing to drive expansion is top of our agenda and with HSBC’s support, led by our Relationship Director Pankaj Singh, the new financial year will see us increase our presence in both London and the south of England.

“We’ll be looking to build our portfolio through acquisitions, purchasing new sites and exploring new franchisee options in our target regions.”

Victoria Ritchie, HSBC’s area director for London City Corporate Banking, added: “We have forged a good relationship with Hamid, supporting his company’s growth over the last few years with impressive results.

“His new, fast-paced expansion plans for the UK show great ambition, with multiple sites planned in the next twelve months. We can’t wait to see what’s next for this exciting business.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.