Yolk raises capital for London expansion

Fine fast food business Yolk is raising capital through private equity firm Growthdeck as it targets expansion across London.

The five-site independent offers sandwiches, baked goods and specialty coffee without charging consumers a premium price tag.

Yolk said that the brand aims to offer a “revolutionary improvement” in Londoners’ grab-and-go lunch options. It stated that the existing options have become stale and are suffering from falling quality.

The Yolk team has built a “strong” foundation with its first five sites, all of which are already “profitable”.

It is now looking to expand to take advantage of falling commercial rents, strong property supply, and competition that has shifted to cost control rather than quality.

Yolk is targeting over 25 sites within the next three financial years, with three of those already agreed with landlords. By June 2024, the company plans to be at 10+ sites and strongly net-profitable at group level.

Yolk currently offers eight breakfast and 15 lunch and dinner dishes, using simple, high-quality ingredients and Michelin-level kitchen equipment to deliver food to customers on the go.

Its initial success as a weekend pop-up led it to expand to five permanent sites at Canary Wharf, London Bridge, New Street Square, Soho, and Broadgate.

Ian Zant-Boer, CEO of Growthdeck, said: “Yolk is breaking the monotony of the UK grab-&-go scene, offering premium food but leaving out the hefty price tag.”

“If you work in central London, there’s a real illusion of choice when it comes to food on the go. However, it’s really just the same handful of uninspiring options repeated again and again. Yolk offers food that’s a real cut above that.”