Giggling Squid has secured investment of £6.4m for the expansion of its Guildford-based chain of 13 restaurants to up to 70 sites within the next seven years.
The investment has come from BGF (Business Growth Fund), the UK’s leading provider of growth capital to small and mid-sized businesses.
BGF has also introduced Simon Kossoff, chairman and former chief executive of Carluccio’s, to Giggling Squid as non-executive chairman. Jon Simon, an investor at BGF, has also joined the board.
With the BGF capital, Giggling Squid intends to break new ground and enter the London suburbs inside the M25, building on its new site in Esher set to open on Thursday next week.