Addleshaw Goddard's Restaurants, Bars and Pubs sector team has advised Santander on its new £16m finance package for premium bar and restaurant chain, The Alchemist. The transaction was led by Banking Partner, Martin O'Shea.

Currently with a portfolio of 12 sites across the UK, The Alchemist will invest the funding into innovation of the brand, as well as the acquisition of new premises over the coming years. Following successful openings last year in Oxford and MediaCity UK, Salford, the group plans to further expand its presence, with Nottingham, Bristol and Cardiff earmarked as future planned locations.

Martin O'Shea said: "This additional financing is real testament to how brands such as The Alchemist, which has an unshakeable presence across the UK, can attract funding from major lenders, despite challenging sector conditions. The group has impressive plans for future growth and with a strong management team The Alchemist is on course for a bright future."

Commenting on the deal, Joint Head of AG's Restaurants, Bars and Pubs sector, Alex Dumphy, said: "It is encouraging to see that, despite gloomy forecasts within the sector, there are groups which are still able to confidently secure investment across the piece. We continue to advise Restaurant and Bar groups on a wide range of financing and other strategic transactions, which is testament to our strong sector focus".

Our sector team has provided strategic advice for a range of restaurants and bars over the years, including advising leading cocktail bar group, Be at One, on a refinancing deal set to expand the group's national portolio.