NWTC secures further £5.6m investment from NatWest
Following on from the bank’s previous investment last year (January), NWTC has continued its expansion with a further seven openings, including four additions to the Botanist brand, in Manchester’s Media City and Didsbury, Reading in Berkshire, and West Bridgford in Nottinghamshire.
The multiple operator also introduced its Canal House concept in Birmingham and its new brand, the Florist, in Bristol and Liverpool.
NWTC has seen its turnover soar by more than half (60%) since its acquisition by private equity specialist Graphite Capital in 2016, ensuring a place in The Sunday Times Fast Track 100 Companies for three years running.
Roll-out programme
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The remainder of 2018 will bring the completion of the group’s Manchester flagship site, the Oast House alongside new openings for the Botanist in Coventry and Cheltenham.
Next year will see more openings for the brand in Cardiff, Exeter and Bath as well as a third site for the Florist in Watford, Hertfordshire.
NWTC claimed the roll-out programme will lead to a 25% rise in staff numbers to more than 1,500.
Chief executive Chris Hill said: “We are grateful to NatWest for its continued support and belief in our brands, and to Graphite for the ongoing backing and encouragement."
First-class business
He added: “Our unique proposition is proving increasingly popular with the public across the UK and we are looking forward to taking the Botanist and the Florist to new and exciting parts of the country."
NatWest director of leisure Mark Porter called the operator a “first-class business” and hailed its “wonderful formats”.
He said: “We have admired the NWTC business and management team for a number of years and it continues to provide, via a number of wonderful formats, an outstanding consumer environment and experience.
“As such, we are delighted to be providing further support via this increased facility to this first-class business and best-in-class management team.”
