Brasserie Bar Co, the group behind the Raymond Blanc-inspired Brasserie Blanc and White Brasserie Company, has secured a new £6 million facility from Barclays to support its expansion and development plans.
This comes after Brasserie Bar Co’s recent acquisition of eight former Chez Gerard sites in London including the iconic Opera Terrace restaurant at Covent Garden. The first Brasserie Blanc opened in 2006 and the company currently operates 11 Brasserie Blanc sites across the country, with plans to expand to 19 restaurants by the end of the year and a total of 40 outlets by 2016.
The most recent additions to its portfolio are in Berkhamsted and at St Paul’s in the City of London, which opens in early April.. The company also operates the White Brasserie Company which brings Brasserie Blanc standard food to pub restaurants, and currently works with two pubs in the south of England.
Bob Silk, Relationship Director in the Hospitality & Leisure team at Barclays commented: “In the current environment where discretionary spend is under tight pressure, the management team spotted an opportunity to develop an offering that is going from strength to strength in a very competitive environment. It is testimony to the strength of the brand and skill-set of the management team that they have been able to do this.”
Mark Derry, CEO of Brasserie Bar Co, said: “We are delighted that Barclays is supporting us at this exciting time in the growth of the business. Raymond Blanc’s dream of bringing quality French food to the high street is being realised with the Brasserie Blanc brand becoming synonymous with classic French dishes and exceptional service. This new facility from Barclays will help us to transform our new sites into Brasserie Blancs and seek further locations for expansion of the business.”
Brasserie Bar Co, the group behind Brasserie Blanc and the White Brasserie Company, has exchanged contracts with Groupe Chez Gerard Restaurants Limited for eight restaurants in London, including the key location at the Covent Garden Opera Terrace. The company expects to invest a further £4 million to transform them into Brasserie Blancs through a rolling programme which is expected to be completed during 2012.
This deal comes soon after Brasserie Bar Co raised £20 million of new capital from its private equity backer, Core Capital and gives the business a significant West End and City of London presence. With the addition of these new sites the estate will grow to a total of 19 outlets, including nine existing Brasserie Blancs and two White Brasserie pubs. The restaurants joining the group are located at Bishopsgate, Chancery Lane, Charlotte Street, Covent Garden, St Pauls, Southbank, and the Tower of London.
Mark Derry, CEO of Brasserie Bar Co said: “We are delighted to have secured these prime locations for Brasserie Blanc which will give us significant traction in central London and progresses Raymond Blanc’s dream of bringing quality French food to the high street. We have an exceptional team, led by John Lederer, which is ready to go. Our task will be to transform these sites to the quality our customers have come to expect from the Brasserie Blanc brand.
“Our strategy, when we raised £20 million of new capital in September, was to expand our brasserie businesses particularly in London and the South East. This acquisition gives us eight new Brasserie Blancs and increases the number of covers we serve to over 2000.”
Brasserie Bar Co, the group behind Brasserie Blanc and the White Brasserie Company, has successfully raised £20 million of new capital through investor, Core Capital, to expand its two proven concepts.
The investment will allow the group to develop new sites for its well established Brasserie Blanc brand and White Brasserie Company pub format over the next five years.
Mark Derry, CEO of Brasserie Bar Co said: “This capital injection will allow for more rapid expansion of our brasserie businesses and is testament to the resilience of our existing restaurants which are trading well and providing good returns on investment. We believe that this market is robust and offers good growth opportunities.
“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.”
Proven management team
The team behind Brasserie Bar Co has a proven track record in retail hospitality investments and operations, with many having previously worked together to develop Loch Fyne Restaurants before its successful sale to Greene King.
Mark Derry is chief executive of Brasserie Bar Co and will oversee the group’s growth strategy while well-regarded restaurateur, John Lederer, is managing director and has overall management responsibility across both brasserie businesses. Ian Glyn is chairman and Helen Melvin, former CFO of Loch Fyne Restaurants, is to join Brasserie Bar Co as finance director.
The directors of Brasserie Bar Co were advised by Zolfo Cooper Corporate Finance Limited.
Brasserie Bar Co opens its new headquarters office in Teddington this month.
Former Loch Fyne management and current Brasserie Blanc team to roll out new pub-based business
Brasserie Bar Co, the company and team behind Brasserie Blanc, announces the launch of a retail hospitality concept targeting pub and bar sites in the UK. The new offering, known as the White Brasserie Company, is based on the Brasserie Blanc business, taking the best aspects of a French brasserie – bustling environments, quality of food, drink and service – and blending them in a more relaxed, local pub setting.
Two White Brasserie Company sites have already been secured to showcase the new venture. The Queen's Head in Weybridge, Surrey will open this month and the King's Head in Teddington, Middlesex is expected to open in September. Brasserie Bar Co. plans to trial these two sites and then expand the concept nationwide.
Jeremy Hardie, Chairman of Brasserie Bar Co, said:
“What we now want to do with the White Brasserie Company is to take the best elements of Brasserie Blanc and bring them in to the pub environment. We have a settled, proven and experienced team of people to realise our vision of brasserie style and quality in popular settings, serving a local market.”
Experienced team, proven management
Brasserie Bar Co. successfully raised £3.3m new funding from existing investors in early 2010 to grow Brasserie Blanc and develop the White Brasserie Company. The team behind Brasserie Bar Co. has a proven track record in retail hospitality investments and operations, and include former Loch Fyne Restaurants directors Jeremy Hardie, Mark Derry and Ian Glyn. Mark Derry is tasked with the strategic development of Brasserie Bar Co, working closely with co-director and experienced restaurateur, John Lederer, who has overall management responsibility across both brasserie businesses.
Alongside the roll out of the White Brasserie Company, and after the recent success of its eighth restaurant opening in the City of London, Brasserie Blanc will continue to expand in select provincial locations. Plans are to operate up to 20 sites by 2015. Existing restaurants are located in Bristol, Cheltenham, City of London, Leeds, Milton Keynes, Oxford, Portsmouth and Winchester.