Nightcap announces £2.5m Adventure Bar acquisition

Tue, 04 May 2021 | BUSINESS SALE

Nightcap has announced the acquisition of the Adventure Bar Group for a maximum consideration of £2.5 million. The acquisition will see Nightcap pay £1 million upon completion of the deal, with an additional £1.5 million available in deferred considerations, which will depend on financial performance.

Following the acquisition, Nightcap plans to expand Adventure Bar Group’s estate from its current nine locations to up to 40 sites across the UK. The expansion will be funded by a share placing which will aim to raise around £4 million.

The acquisition is Nightcap’s second, after it took over London Cocktail Club (LCC) in January. Nightcap is similarly looking to expand LCC from 10 UK sites to around 40, via a share holding designed to raise up to £6 million.

Adventure Bar Group includes the bars Bar Elba, Tonight Josephine, Luna Springs and Blame Gloria. In addition to its nine locations, the group also has a pipeline of further sites.

Nightcap Chief Executive Sarah Willingham commented: “The further expansion of Adventure Bar Group will take place during a time where the opportunity to acquire first class property at attractive rates is unmatched by anything I have seen during my 25 years in hospitality.”

“The acquisition furthermore expands the opportunity to take on different types of property, particularly with the Bar Elba and Luna Springs concepts trading as large outdoor venues, benefitting significantly when trade is restricted indoors and during the summer period.”

More:  Tyrell's tycoon sells Chase Distillery

“In addition, this acquisition will provide Nightcap with opportunities for purchasing synergies across the enlarged group and allow us to benefit from bringing new areas of excellence onboard, and I could not be more delighted to welcome Adventure Bar Group to the Nightcap family.”

Adventure Bar Group Chief Executive Thomas Kidd added: “We have been looking at growth funding options for some time and this is the perfect outcome for us; the experience and knowledge of the senior Nightcap team will be a huge asset to the business as we look to scale and to share our brands like Tonight Josephine with more people around the UK.”

Read more about the growing M&A activity in the UK’s pub and bar sector.

Find out how structures such as deferred considerations can help to bridge valuation gaps.

Find businesses for sale here.

If you are looking for an exit, we can help!

Share this article

Latest Businesses for Sale

Garden Centre Restaurant Tea Room
Lincolnshire, East Midlands, UK

An amazing restaurant / cafe / tea room business built over the last eight years and trading phenomenally well. Rarely do we see this type of venture attracting such a high volume of trade.

Asking Price:
£125,000
Turnover:
£640,000


Wholesaler Of International Food Products
UK Wide

Stocks in excess of 700 international food products, including confectionery, snacks, sodas and groceries. Has in excess of 800 clients, with 60% providing ongoing, reliable revenue.

More:  Casual Dining Group set to appoint administrators

Asking Price:
Offers Invited
Turnover:
£3,000,000


Restaurant & Café with Bakery
Glastonbury, Somerset, South West, UK

Ideally situated on High Street. Bakery, Restaurant & Cafe. Provides Excellent Service & Delicious Meals. Ideal All Year Round Venue. Seating for 80 Customers at Once. Offers invited.

Asking Price:
£327,000
Turnover:
£564,000


View more businesses for sale


More from: | Category: M&A News