Creams acquired by Pistachio Holdings

Creams founders, Adam Mani and Balal Aqil, will remain fully involved in the 93-strong business after Pistachio acquired a majority stake in the business. 

According to an announcement, investor and shareholder Shah will support the senior team in “taking the business to the next level”, driving ambitions for UK and international expansion, whilst enhancing Cream’s manufacturing capabilities.

Shah is managing director at Sumaria Group, a family owned investment holding company operating primarily in Eastern Africa, and chairman of Doughworks Limited, a KFC and Pizza Hut franchisee in Tanzania.

He holds several board and advisory roles in tech start-ups in Africa and the UK, and was previously a hedge fund manager in London.

Despite the challenges of coronavirus, Creams has reported record sales after introducing delivery and click and collect.

The brand has also opened three new stores since March 2020 with another five to six planned for the first quarter of 2021.

Creams CEO and Co-founder Adam Mani said: “The Creams brand, amidst the pandemic, has maintained strong sales and growth. Product innovation, effective supply chain management and the hard work and passion of our internal team and franchisees have stood us in good stead and this new partnership is an exciting one for Creams.

“This strategic investment from Pistachio Holdings will help drive our future growth aspirations including growing the business internationally and increasing our manufacturing capabilities, areas in which they can really add value.”