Freshii Founder Visits Dublin For Retail Summit

07 Sep 2017 | 10.10 am

Freshii Founder Visits Dublin For Retail Summit

No stopping Matthew Corrin's green giant

07 Sep 2017 | 10.10 am

Freshii founder Matthew Corrin has signalled that the fats food chain will add six new outlets in Ireland before the end of the year. Corrin is the star speaker attraction at the Ireland’s Convenience Retailer Summit taking place today in the Clayton Burlington Hotel.

The new stores will be located in Dame Street, The Point Village, Sandyford and Smithfield, with the two other outlets in the final stages of the planning permission process.

This week Freshii opened its second M1 outlet at Applegreen’s Motorway Services on the M1 southbound at Lusk.

“I’m delighted that Freshii has grown so quickly in Ireland,” said Corrin (35). “By Christmas we will have close to 20 Freshii outlets across the country, which is a significant achievement by our Irish master franchise owners Dave O’Donoghue and Cormac Manning in just over two years.”

 

Dave O’Donoghue, CEO Freshii Ireland, commented: “Freshii’s core mission is to help people live healthier and better lives by making nutritious food convenient and affordable. Our extensive menu means anyone can come to Freshii and find something tasty, healthy and energising.”

In February 2017, Freshii listed on the Toronto Stock Exchange, promising investors 840 locations worldwide by the end of 2019. The company’s initial public offering was priced at C$11.50 a share, raising total gross proceeds of C$125m. The share is currently trading around the C$9 mark.

In H1 2017, system-wide sales increased to US$63.6m compared with $43.4m a year earlier. The increase in the company’s revenue – from franchise fees and sales from owned stores – was more modest, up to $8.7m from $7.9m a year earlier. Operating loss for the period was $1.9m compared with a profit of $2.2m the year before.

Corrin opened the first Freshii in Toronto in 2005, and the company says it receives 4,000 franchise applications each year.

 

Photo: Matthew Corrin (left) and Dave O’Donoghue

 

 

 

 

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