Charles Russell Speechlys has advised long-standing client Stonegate on a series A investment into Peckwater Brands
Charles Russell Speechlys has advised longstanding client Stonegate on its investment into Peckwater Brands as part of a wider £15m series A funding round. Stonegate has taken a minority stake into the delivery franchise company Peckwater after trialling its services across some of its pubs. Co-investors in the funding round included Soft Bank Investors and investors from a previous funding round Fuel Ventures and Pembroke VCT.
Stonegate is one of the largest pub companies in the UK with a rich portfolio that covers over 4,500 sites within both the managed division and leased and tenanted businesses.
Peckwater is the fastest-growing virtual brand company in the UK and was founded in 2019 by Sam Martin and Leo Bradshaw. Peckwater combines innovative technology and expert knowledge of branding and hospitality to offer delivery services to kitchen operators, with the goal of changing the way that the food delivery sector operates.
This series A funding will give Peckwater the opportunity to develop sector-focused technology such as machine learning-generated menus and operations performance improvements. The investment is an important milestone for Peckwater, which has its sights on becoming the largest kitchen network in the UK and increasing its international operations by developing its US division.
Corporate partner David Coates commented: “It was great to assist Stonegate and TDR with the investment into Peckwater Brands and a pleasure to work with Hassan, Rhianna and Marius. The firm has very strong links with Stonegate and TDR and advising on this strategic investment adds to those links.”
The Charles Russell Speechlys team was led by Corporate Partner David Coates and supported by Associate Jeff Carvell. The team also included Helen Coward, Anna Reynolds (Tax), Caroline Young, Ilona Bateson (Commercial), Nick Hurley and Izzie Beddard (Employment).
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