Brasserie Blanc secures £20m of new funding
Money to go towards improvement of existing brands
High-end hospitality group Brasserie Bar Co has raised £20m of fresh investment to grow its two flagship brands.
The money, provided by Core Capital, will be used to expand the renowned Brasserie Blanc restaurant network, and launch new premises for the White Brasserie Company gastro-pub chain, which launched last year. Brasserie Bar Co hopes the new funding will allow the continuation of an impressive recent period of growth; last year the company increased turnover by 12.5% to £11.6m, defying the general mood of anxiety within the dining sector. Mark Derry, CEO of Brasserie Bar Co, hopes to expand the business to 40 sites within the next five years, and believes the Core Capital investment is a crucial step towards achieving this goal. Derry said the investment “will allow for more rapid expansion of our brasserie business, and is testament to the resilience of our existing restaurants, which are trading well and providing good returns on investment. “While by no means immune to difficulties in the wider economy, operators in the premium casual dining sector who are able to offer quality of service and product continue to perform well. This, combined with the trend for eating out which has become an established part of day to day life in the UK, means we are well positioned to roll out the business.”