Origin Coffee announces £3.1 million investment
Image: Origin Coffee
B Corp specialty coffee roasters, Origin Coffee, has announced a GBP £3.1 million investment to support the growth of the business whilst continuing its commitment to improving sustainability within the industry. With a significant focus on digital activity, retail and wholesale areas of the business will also benefit.
This investment supports and ensures manageable growth of Origin Coffee’s D2C, retail rollout, and expansion of the wholesale channel. As part of the four-year plan, Origin Coffee intends to remain committed to ethical sourcing by increasing direct Green Coffee purchases from farmers by 77%. Closer to home, employment is set to increase with new opportunities across the team including Head Office.
Majority owner and CEO, Tom Sobey said, ‘We take our commitment to sustainability and transparency seriously. The foundation of our business will remain ethical as we grow, and our efforts from the last couple of decades won’t dwindle. Securing investment like this offers us the flexibility and opportunity to take the company forward. We know this is a big step for Origin Coffee and understand that with this growth comes considerable responsibility to our partners, employees, and the wider industry. We’re so excited to grow together with our new partners, as well as our long-time friends and supporters.’
By taking on this investment, the business will sell part of the ownership for the very first time. Sobey will stay as majority shareholder as he retains the most significant portion of ownership and will remain in charge, but be supported by his new partners, which include Create Impact Ventures, Yeo Valley, and The Cornwall & Isle of Scilly Investment Fund (CIOSIF). Tracy Doree of Freddie’s Flowers, Farewill, and Oddbox will join the Origin board as independent chair and non-executive director, and David Bernstein, former chairman of Manchester City and the Football Association, will also join the Origin Coffee board as non-executive director.
David Bernstein said “We are thrilled to invest in Origin Coffee, a dynamic player in the growing specialty coffee market. We believe in providing support to transform growth-stage businesses into market leaders, and we’re excited to join Origin on its journey to expand nationwide while preserving its impressive culture and specialist market position. Its direct trade partnerships, Queen’s Award, and B Corp certification demonstrate its dedication to responsible business practices. Together with Tom, we aim to promote sustainability and create employment opportunities in Cornwall and beyond, fostering both growth and impact.”
Meg Salt, FSE investment manager at CIOSIF, said: “We are excited to be adding this thriving Cornish business, with sustainability at its core, to our CIOSIF portfolio. Our funding will support Origin’s growth as the team looks to expand across the country whilst also continuing to boost employment close to home in Cornwall. Our funding will support growth in their retail and online presence, bringing ethically sourced, specialty coffees from around the world to customers. We look forward to continuing to work with them as the business grows.”
As 2024 marks two decades in business, sustainability, quality, and integrity continue to be fundamental to Origin Coffee’s approach, particularly as it expands.
