Expanded family-owned IGA store from $4M to $25M in 5 years
Background
In 2017, a family business with $4 million in annual sales sought expansion opportunities. HEVEN recognised the potential and invested with the aim of propelling the business to new heights. Capital injection and support services grew this family business
HEVEN'S Contribution
Outcome
By 2023, the family business had undergone a remarkable transformation. HEVEN’s strategic investment and comprehensive support had propelled the business into a robust network generating over $25 million in annual revenue across Victoria, Australia. The establishment of a dedicated central support team and secondary wholesaling capabilities in both metro and regional locations marked significant milestones in the business's growth journey.
Despite the challenges posed by the COVID-19 pandemic, the business not only endured but thrived, showcasing resilience and adaptability through HEVEN’s strategic support services and timely capital injection.
Accomplishments
- Company met its 2017 expansion objectives and HEVEN successfully executed the exit strategy
- Generated over $25 Million in annual revenue across Victoria, Australia
- Established central support team across metropolitan and regional locations
- Maneuvered challenges during Covid-19 and excelled during this time
- Implemented business strategy with precision
- Enhanced internal culture by strategic hiring in-line with the company's culture
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