(Source: Inside Retail Philippines | 16 September 2016)
Salad bar chain SaladStop! Philippines is set for further expansion after its Singapore parent raised S$5 million (US$3.6 million) from private equity firms DSG Consumer Partners and Hera Capital.
SaladStop! Philippines currently has eight outlets and there are 15 in Singapore. Further stores are planned in Hong Kong, Indonesia and Japan by the end of the year.
The latest investment is described as the first round of funding and will largely be invested in growing the company’s Singapore footprint and developing technology running its operations. But more stores are confirmed for the Philippines.
A family business, SaladStop! was founded by hotelier Daniel and Adrien Desbaillets in 2009 and is co-headed by daughter Katherine and son-in-law Frantz Braha.
Hera Capital’s Thierry de Panafieu says the company benefits from the growing middle class in Asia and increasing awareness toward healthy and sustainable eating.
SaladStop!’s motto, Eat Wide Awake, encourages consumers to be more knowledgeable about their food. It is pioneering a food movement that believes in the basic human right to truly eat well.
Hera Capital is a private equity firm investing in fast-growing SMEs in the consumer retail, media and digital sectors with a focus on Southeast Asia. Hera Capital has invested into such firms as ActSocial, Bel Perfumes, CashCashPinoy, Creme Simon and Sophie Paris.
DSG Consumer Partners is a venture capital fund focussed on early-stage consumer businesses in India and Southeast Asia. Brands funded and backed by the founders since 2004 include Bakers Circle, Burger King India, Chai Point, Eazydiner, Raw Pressery, Saffronart, Saraf Foods, Smoke House Deli, Sula Wines and Veeba Food.