Pistachio Holdings acquires majority stake in Creams
Pistachio Holdings has acquired a majority stake in the 93-site dessert café brand Creams.
Creams founders Adam Mani and Balal Aqil will remain involved in the business and will be supported by incoming director and investor Ankush Shah of Pistachio Holdings. Shah will be supporting the senior team to drive the business's ambitions for international and UK expansion.
Creams has pivoted its business during the pandemic, offering delivery and click and collect services. In October, the group reported sales of over £4m. The brand has also opened three new stores since March with another five or six planned for the first quarter of 2021.
Creams chief executive and co-founder Mani said: "The Creams brand, amidst the pandemic, has maintained strong sales and growth. Product innovation, effective supply chain management and the hard work and passion of our internal team and franchisees have stood us in good stead and this new partnership is an exciting one for Creams.
"This strategic investment from Pistachio Holdings will help drive our future growth aspirations, including growing the business internationally and increasing our manufacturing capabilities, areas in which they can really add value."
Creams, knowns for its flamboyant desserts, was founded in 2008 by Aqil and Mani. The brand employs more than 1,400 people and works with a variety of franchise partners across the UK.