Member Article

Lancashire’s Revolution Bars Group Ltd announces IPO

Lancashire’s Revolution Bars Group Limited, the owner of the Revolution chain of bars today announced its intention to float on the stock market.

The Group has a portfolio of 58 bars, in towns or city high streets across the UK, operating under the Revolution (53 sites) and Revolución de Cuba (five sites) brands.

The IPO ( initial public offering) will comprise of an offer of Shares to institutional and retail investors.

The group report a revenue of £108.7 million for the financial year ending 30 June 2014 and had a record week in December 14- 20 2014 where it took the most cash in the group’s history.

The directors believe the move will be a positive step for the company and will lead to increased brand awareness.

Chief executive officer of Revolution Bars Group, Mark McQuater, said: “Revolution Bars Group is one of the leading players in the UK’s premium drinking out and casual dining out markets, with a well-invested trading estate of 58 bars that is generating market-leading returns in this sector.

“Both Revolution and Revolución de Cuba are premium brands which target a growing market where we believe a premium offering is in demand.

“We believe that a successful listing will complement the Group’s growth strategy and help support our roll-out plans for the Group’s branded bars in the UK.”

This was posted in Bdaily's Members' News section by Sophia Taha .