The Brasserie Bar Co has completed a debt finance deal worth £20m as it gears up to open 24 new sites over the next five years.
The restaurant and pub group, which specialises in French cuisine under the Brasserie Blanc and the White Brasserie Company brands, aims to take on around 700 employees by 2022.
The company currently operates 35 sites across the two brands. The Brasserie Blanc brand was originally developed by Michelin-starred chef Raymond Blanc and has 20 sites.
The White Brasserie Company was launched in 2010 and has seven sites in Surrey, four in London, and additional sites in Hertfordshire, Cheshire, Essex and Buckinghamshire, making 15 in total.
‘We have ambitious plans for both brands,’ Mark Derry, CEO of Brasserie Bar Co said. ‘Brasserie Blanc is well positioned to capitalise on the increased interest and footfall resulting from the refurbishment of the estate and The White Brasserie pubs have gone from three to 14 in the last four years with a menu, service ethos and ambience that is really hitting the mark with guests.’
The financing for the expansion to 59 sites by 2022 has been put forward by UK bank OakNorth, which launched in 2015.
The Brasserie Bar Co was previously backed by equity investment from private equity firm, Core Capital Partners, and debt provided by ESO Capital in 2014.
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