King & Wood Mallesons has advised London-based bar and restaurant group Drake & Morgan on the financing of the acquisition of Corney & Barrow Bars Limited.

Corney & Barrow Bars, owned by Corney & Barrow’s 230 year old wine merchant business, launched in 1983 as a City-based collection of premium wine bars. The group operates 11 bars – ten under the Corney & Barrow name and one as its flagship bar and restaurant, Devonshire Terrace.

The acquisition forms part of Drake & Morgan’s strategy to build a multi-brand bar and restaurant portfolio in London and regionally in the UK. With the acquisition of Corney & Barrow, Drake & Morgan will more than double the number of sites managed by the group to 20, with a further five expected by the end of 2017.

Lorraine Vaz, Finance partner, said, “We are delighted to have supported Drake & Morgan on this acquisition which is part of their wider growth strategy. The financing was an excellent opportunity for King & Wood Mallesons to continue our relationship with Drake & Morgan and highlights the strength of the team to provide commercial solutions for our clients.”

James Sherrington, Finance Director at Drake & Morgan, said, “It was great to work with Lorraine and her team again, who provided us with an excellent service throughout the transaction. This acquisition strengthens our presence in the City and forms part of the Drake & Morgan expansion plans.”

The King & Wood Mallesons team was led by partner Lorraine Vaz with associate Helen Wang and trainee Rachel Carr.