Nightcap acquires Barrio Familia bar group for £4.9m

Nightcap, the company led by ex-Dragon's Den investor Sarah Willingham, has acquired the Barrio Familia bar group for £4.9m.

The deal includes four Latin American-inspired cocktail bars in London trading under the Barrio brand, and the 1960s themed cocktail bar Disrepute in London's Soho.

It is the third major acquisition this year for Nightcap, which bought the Cocktail Club - formerly London Cocktail Club - in January and the Adventure Bar Group in May.

Nightcap said the Barrio brands had ‘significant UK rollout potential' and that the deal was based on a growing demand for Tequila-based drinks, which CGA Strategy research ranks as the third fastest growing spirit behind rum and gin in the UK.

Following the sale, Nightcap expects its results for the year to 3 July 2022 to be ‘significantly ahead' of current market expectations.

Willingham, who is chief executive of Nightcap, said: "When Nightcap was founded, one of my goals was to acquire a bar group that has the potential to maximise on the winning combination of Margaritas and tacos - a personal favourite of mine!

"Over the past year, Nightcap has closely observed the significant growth of the Tequila market with great interest, and we believe that this acquisition has significant potential for UK-wide expansion."

Barrio Bar Group was founded by Ferdie Ahmed in London's Angel in 2007 and has since expanded to Soho, Shoreditch and Brixton. Disrepute launched in Soho in 2016.

Ahmed will continue to work for the company on a 12-month consulting agreement which may transition to a permanent role after six months.