Brasserie Bar Co acquired by Alchemy Partners
Brasserie Bar Co, behind the Brasserie Blanc and the White Brasserie Co brands, has been acquired by Alchemy Partners for an undisclosed sum.
The Times has reported the group was sold by Soho Square Capital for an estimated £40m.
The new owner plans to accelerate the growth of the White Brasserie pub business towards a portfolio of 70 sites over the next five years. Mark Derry will remain as executive chairman of the group and Richard Ferrier as managing director.
The group has 1300 employees serving on average 34,000 customers a week across 14 brasseries and 18 pubs, and was founded by Derry and chef-patron Raymond Blanc (pictured). Blanc will remain involved with the business following the sale.
It said it had rebounded "strongly" from the impact of Covid-19 and continued to "trade well" across all sites. In the financial year to June 2020, the group saw sales decline from £58m to £43m and restaurant earnings before interest, tax, depreciation and amortisation (EBITDA) £6.6m down from £8.5m the prior year.
Thomas Boszko, partner at Alchemy Partners, said: "Brasserie Bar Co do food-led pubs exceptionally well – a combination of their differentiated product and a very experienced team who know exactly what they're doing. This investment is all about backing that team with the capital they need to expand the estate, both in leasehold but also freehold. We are confident in the future of the industry and believe there couldn't be a better time to do this."
Derry said: "This is a great deal for Brasserie Bar Co, which opens up the path for us to operate more pubs and provide more opportunities for our colleagues. This will enable us to build on our achievements to date and drive further growth across the group. I would like to thank Soho Square Capital for their support and we look forward to working with Alchemy, who share our vision for accelerating the roll out our successful and differentiated pub offer.
"I would like to thank the whole team – led by Richard Ferrier, Chris Guy and Helen Melvin – for getting us to this point. Under their leadership, we have in place a winning combination of serving brasserie-quality food within historic and atmospheric pubs. It is an offer that customers love, and I am confident that the continued strength of our teams, our steadfast focus on food, and our outstanding locations, will drive future success and growth."
Stephen Edwards, managing partner at Soho Square Capital, added: "Brasserie Bar Co is an outstanding business which we are proud to have supported and we wish Mark, Richard and the Alchemy team every future success."
