New World Trading Company secures £23m investment

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Location: England
Other: Business, Venues

New World Trading Company will be feeling a bit flush, and eyeing out some new sites, with the £23m it has just secured from NatWest.

The pub and restaurant business was originally set up by Living Ventures founders Tim Bacon and Jeremy Roberts in 2011, before being sold six months ago following Bacon’s death in April last year. Its new owners, private equity specialist Graphite Capital, picked it up for £50m.

The finance package, which includes a £4m capex facility, will help fund imminent new openings in Birmingham, Didsbury and Reading in the coming months, and the employment of 200 extra staff. The company has recently added new sites in Sheffield and York, taking the total estate to 16.

Chief executive of New World Trading Company, Chris Hill, said: ‘We are grateful to NatWest for their support and belief in our brand, and to Graphite for their continual encouragement since the investment. We look forward to pushing forward our expansion plans throughout 2017.’

Neil Parry, head of leisure for NatWest, added: ‘The New World Trading Company is a business we have admired from day one. We are pleased to be partnering with the management team and providing the funding for the next phase of their very successful roll-out programme. With 16 sites today, NWTC is now regarded as one of the leading emerging brands in the UK Hospitality market.’

 

 

About Author

Claire Dodd

As a freelance journalist, Claire has written about pretty much any topic you can imagine, from which are the best sausages, to how to flood-proof your home. However, her writing on drinks began when she landed a job as a features writer for the Publican magazine in 2007. Adjusting to a lifestyle of sampling the best drinks from around the world was tough, but someone had to do it. Having left the title in 2011, today Claire focuses on drinks and travel writing for both consumer and trade titles. Aside from searching the globe for the best drinks, and the nicest spots to consume them, she also judges global brewing competitions and keeps an eye on the business moves of the on-trade.

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