Press Releases
SMEDVIG CAPITAL AND LOVEJUICE
MANAGING DIRECTOR OF LOVEJUICE APPOINTED
Smedvig Capital, the London-based private equity company active in development capital for growth businesses, is pleased to announce the appointment of Andrew Shanahan as the new Managing Director of portfolio company Lovejuice (or "the Company"). Andrew joins Lovejuice from Pret A Manger ("Pret").
As Development Director of Pret Andrew opened 13 new shops and led a refurbishment programme of 56 shops in 6 months. Prior to that Andrew was Director of Shops where he led a team of 14 operation managers, set new records for sales per week and delivered like for like sales growth of 12%. Andrew established and developed key relationships with BAA, Network Rail and Value Retail for Pret.
Rob Toms, Managing Director at Smedvig commented: "We are delighted to have found such a highly talented man to expand Lovejuice's presence throughout the UK. Andrew has the perfect experience for this role. The UK juice and smoothie market continues to grow at a rapid pace and Lovejuice is ideally positioned to exploit this burgeoning trend, more so than ever with this appointment."
John Heseltine, Founder of Lovejuice added: "We have made huge progress in broadening our national reach with new store openings nationwide during the last six months. The Lovejuice team are looking forward to working with Andrew to build on that success and further accelerate our growth."
For more information please contact:
John Hewett / Rob Toms
Smedvig Capital
Tel: 020 7451 2100
John West / Clemmie Carr
Tavistock Communications
Tel: 020 7920 3150
Notes to Editors
Smedvig Capital
Smedvig Capital is a London based private equity firm that has been instrumental in the growth of over 30 businesses since its founding in 1996, including Protego Real Estate Investors which Smedvig backed in 2004. Smedvig believes that equity investing should incorporate high levels of involvement and support, working with management on strategy, finance, operational improvements and business development initiatives. The team shares a common background in strategy consulting, with additional experience in operations, start ups and banking.
Direct investments are usually in UK businesses, from development capital through to small buy outs, equity commitment £2 to £10m.
Smedvig Capital is authorised and regulated by the Financial Services Authority.
www.smedvigcapital.com
Lovejuice Limited
Lovejuice is the leading chain of branded juice bars in the UK, offering juices, smoothies and other beverages and snacks to consumers ´on the move´.
Lovejuice was set up by John Heseltine in 2003, opening its first store with BAA at Stansted Airport in the autumn of that year. The Stansted store was a great success, and further openings followed at Manchester and Gatwick Airports, along with Bluewater and Brent Cross shopping centres.
Given the considerable traction achieved by the Lovejuice stores and the well documented drive for a healthier daily food consumption on the part of many British adults, the company now has plans to open more than 50 further outlets nationwide, with store openings at Luton Airport, Meadowhall, Solihull Touchwood Centre and the Bullring in Birmingham all having taken place so far in 2006.