A £21m funding package from HSBC is to lead to the construction of 75 new Starbucks drive-thrus, with all sites featuring EV charging.
The money has been secured by Swansea firm The Magic Bean Co, which specialises in Starbucks drive-thrus and currently operates 47 sites in UK, being the coffee brand’s only ‘national growth partner’.
Four new drive-thrus have already been completed, with another four due before the end of the year. Each site will create around 20 jobs, with 1,000 new roles set to be in place once the project is completed.
The Magic Bean Co expects turnover to more than double thanks to the expansion, rising from £34m to £68m within five years. The firm is guaranteeing that all new sites built over that period will feature EV chargers.
Jamie Evans, finance director at The Magic Bean Co, says that HSBC has worked with the firm since its inception “supporting us from the opening of our first Starbucks drive-thru in Cardiff in 2014”. He adds that the £21m fund “will support the continued rollout of our Starbucks drive-thru portfolio”.
Lyndsey Connor, a relationship director at HSBC, says the bank is “delighted to support The Magic Bean Co on this unique venture, bringing together premium coffee and EV charging”.
