Low-fat food success for Auckland entrepreneur

By Phil Boeyen, ShareChat Business News Editor

Thursday 3rd January 2002

A former Aucklander who has found success with a chain of low-fat food cafes in Britain is looking for investors to help bring the business back down under.

Former New Zealand television reporter Tony Guy and his Australian wife Alison Rose left for the UK three years ago and now operate 11 cafes there under their Luscious Low Fat brand.

Mr Guy says the company has just unveiled a bid for third round funding and is planning to raise between A$3-6 million, either from a number of large investors or from a larger number of smaller investors.

"The company is conducting a global search to find the right people who can aid expansion plans to take Luscious to the USA, Australia, New Zealand and the Middle East," says Mr Guy.

"The company is also looking to find other companies, which it may have a synergy with to develop investment deals or strategic alliances"

Aside from the low-fat food chain the couple has also launched the UK's first chain of organic convenience stores called Luscious Organic.

Tony Guy says the first organic import deal from New Zealand for the stores has "flown off the shelf" and he is now searching for more local organic producers who can sell into the UK.

"We're now looking to New Zealand producers to provide us with top quality organic product. UK producers can't keep up with the huge demand and NZ product is consider the purest organic in the world."

The Luscious business has a turnover of around A$3 million a year but Mr Guy says that is projected to rise to between A$10-20 million this year.

The company has stores in High Street locations as well as in a publicly listed health club chain.

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