Addleshaw Goddard's Restaurants, Bars and Pubs team has advised leading cocktail bar group, Be at One, on a refinancing deal set to expand the group's national portfolio.
The deal will help the group to achieve its plans to increase the number of bars across the UK from 33 to 70. Launched in 1988 with its first bar in Battersea, the premium cocktail bar group has since grown exponentially, and now boasts a widespread footprint across the UK, with venues in: London, Bath, Brighton, Bristol, Cardiff, Leeds, Liverpool, Manchester, Milton Keynes, Norwich, Oxford and Reading.
The AG team was led by joint Head of the Restaurants, Bars and Pubs sector, Partner Alex Dumphy, and included Claire Morrell and Natalie McManus. Commenting on the deal, Alex said: "We were delighted to support Be at One's growth ambitions on this transaction. We have a track record of supporting our clients in this space, and are particularly grateful to be part of be at One's good news story."
AG's Restaurants, Bars and Pubs team has a breadth of expertise advising a client roster of household names on a wide range of sector issues, encompassing: M&A, employment, data, IP, property, financing, restructuring, health & safety, reputation and risk & compliance. Highlights include:
Admiral Taverns Group: funding of £36m to finance the purchase of a portfolio of tenanted pubs from Heineken’s Star Pubs and Bars
The Alchemist: private equity backed buy out and roll of the Alchemist cocktail bar and restaurant chain
Byron Burgers: general property matters
Bleeding Heart Group: new restaurant advice
Chaophraya: term and capex facilities
Cirrus Inns: acquisitions/disposals and a full range of employment issues
Giggling Squid: £6.4m investment in the Thai restaurant chain by the Business Growth Fund to support future expansion
Gusto Restaurants: acquisition by Palatine Private Equity of the Gusto chain, sited across the North of England and Scotland
Hammerson: on several key pre-lets to national restaurant chains including Frankie & Benny's, Nandos & Prezzo
Las Iguanas: £24m secondary MBO sale of the UK-wide Las Iguanas restaurants chain to Bowmark Capital
Meadowhall Retail Park: lettings to restaurant operators including 5 Guys, Carluccios, Ed's Easy Diner, Giraffe, TGI Friday, Wagamama and Yo! Sushi
Patisserie Valerie: recapitalisation of the business, including roll-out and bolt-on acquisitions
Pho: advising its lenders term and capex facilities provided to the Vietnamese restaurant chain
Red's True Barbecue: various investments by private investors into the UK-wide chain of American-style Barbecue restaurants
Seafood Pub Company: general property acquisitions and PE investment from Penta Capital
Advising the senior lender on the MBO of Bistrot Pierre, a Livingbridge investment
