Imbiba invests £1.4m in retro-arcade bar NQ64

Imbiba has invested £1.4m in immersive retro-arcade bar NQ64 to support its expansion across the UK.

NQ64 has sites in Manchester, Liverpool and Birmingham and the funding will support the development of a pipeline of openings in Newcastle, Leeds and Edinburgh.

David McDowall, chief operating officer at BrewDog, has been appointment chairman and former Be At One managing director Andrew Stones will represent Imbiba on the board.

Andy Haygarth, founder of NQ64, said: "The investment will allow us to take advantage of exciting opportunities to grow throughout the UK."

Imbiba is a specialist investor in the hospitality sector which has also backed restaurant group Darwin and Wallace and the Vagabond wine bars.

McDowell said: "I'm excited to be involved with NQ64. Andy and the team have built a really interesting and unique concept, and we are seeing plenty of great opportunities to expand their footprint throughout the UK. It's great to be supporting such an awesome young business on this journey."

Investors are believed to be betting on a post-pandemic boom in the pub and bar sector with several notable players already eying acquisitions. Former Greene King boss Rooney Anand has raised around £200m to finance a takeover spree through his RedCat pub company.

Earlier this month pub group Marston's rejected an unsolicited takeover bid from US-based private equity firm Platinum Equity which it said "significantly undervalued" the business.

Image: Facebook @NQ64mcr