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20 September 2011

Venture Capital Investment in global tea and cofee exchange limited

The North West Fund for Venture Capital invests in global tea and coffee exchange limited

The company trades under the brand name, Charbrew, and was founded by young entrepreneur, Adam Soliman, who has developed a range of fruit and novelty blended premium teas for the retail and catering sectors. Adam is joined on the board by Chris Hook, an experienced food and beverage entrepreneur. 


The North West Fund for Venture Capital is a sub-fund of the £185m North West Fund that is financed by the European Regional Development Fund (ERDF) and the European Investment Bank (EIB).


Despite having only been trading for 12 months, Adam has also secured contracts with more than 50 independent retailers as well as listings with Booths Supermarkets, Lakeland Limited and more recently, Sainsbury's and Casino, a chain of French supermarkets. He has also agreed deals with US-based Dean and Deluca, a specialist food company and Lulu, a Middle East-based chain. He has developed an online e-commerce site that sells Charbrew's full range to the consumer by mail order.


The company currently has a range of nine teas, mainly herbal and fruit blends, which are designed to be healthy and innovative; tropical rooibos, strawberries and cream, black tea with sunflower blossoms; to appeal to Charbrew's target market of women between the ages of 25 and 35.. Adam has already agreed an endorsement deal with Breakthrough Breast Cancer to support his branding. The company has also incorporated a green policy into its manufacturing and distribution processes; its teabags are 100% biodegradable and the company is constantly researching new ways of supporting sustainable farming as well as eco-friendly packaging options.


Richard Young, Fund Manager for The North West Fund for Venture Capital, commented, "We are delighted to be supporting Adam Soliman. He has exceptional business talent and has achieved remarkable progress so far.  Our funding will enable the business to take the opportunities that are opening up for the brand. The Fund's investment demonstrates our desire to work with and back young and talented entrepreneurs from the North West and to build the region's successful businesses of the future."


Adam Soliman said: "Working with The North West Fund for Venture Capital is a fantastic opportunity for the brand and for me personally. The commitment from the Fund has reinforced the foundations for a scalable company with huge potential in the marketplace. The North West Fund for Venture Capital has provided not only the capital, but it has also helped to identify and build a strong structured Board to support the company's goals and aspirations over the coming years.''


Serial entrepreneur, Chris Hook, who joins the company as Chairman, commented, "The investment and commitment from the Fund represents a significant step forward for the business. It will enable Adam and me to accelerate the growth of the Charbrew brand in the UK & other international markets through increased marketing and new product development, whilst building a strong management team to ensure the business potential is fully realised over the coming years."

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