The Alchemist to open 10 new sites following £15m investment

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The Alchemist to open 10 new sites following £15m investment

Related tags The Alchemist Restaurant Pub & bar Finance

Cocktail bar and restaurant operator The Alchemist has secured a £15m loan to support the roll out of new sites and refinance its existing debt.

The group, which has locations across the UK, has secured the money from lender OakNorth.

The Alchemist opened its first international site in Berlin​ last year and will open a venue in London Victoria later this month. It says it plans to open 10 new sites in the next three years thanks in part to the funding.

“Despite the well-known challenges facing the hospitality sector, we take pride in our unwavering commitment of growing our brand across the UK,” says CEO Simon Potts.

“Looking ahead we have ambitions to roll out 10 new sites over the next three years with the funding from OakNorth being a key catalyst for this.”

The Alchemist operates venues in cities including London, Liverpool, Birmingham, Cardiff, Edinburgh, Glasgow, Newcastle, and Portsmouth.

“The group has built up a highly impressive reputation with the management team delivering an experiential and theatrical food and drink offer across all day parts, in an array of locations as they plotted their expansion here in the UK and abroad,” says OakNorth’s director of debt finance Stewart Haworth.

“With the pub and bar industry set for significant growth over the next five years, driven by a rising demand for craft spirits, the group is in a prime position to capitalise on this and we look forward to visiting the new sites in the future.”

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