Addleshaw Goddard's Restaurants, Bars and Pubs sector team has advised Santander on its new £16m finance package for premium bar and restaurant chain, The Alchemist. The transaction was led by Banking Partner, Martin O'Shea.

Currently with a portfolio of 12 sites across the UK, The Alchemist will invest the funding into innovation of the brand, as well as the acquisition of new premises over the coming years. Following successful openings last year in Oxford and MediaCity UK, Salford, the group plans to further expand its presence, with Nottingham, Bristol and Cardiff earmarked as future planned locations.

Martin O'Shea said: "This additional financing is real testament to how brands such as The Alchemist, which has an unshakeable presence across the UK, can attract funding from major lenders, despite challenging sector conditions. The group has impressive plans for future growth and with a strong management team The Alchemist is on course for a bright future."

Commenting on the deal, Joint Head of AG's Restaurants, Bars and Pubs sector, Alex Dumphy, said: "It is encouraging to see that, despite gloomy forecasts within the sector, there are groups which are still able to confidently secure investment across the piece. We continue to advise Restaurant and Bar groups on a wide range of financing and other strategic transactions, which is testament to our strong sector focus".

Our sector team has provided strategic advice for a range of restaurants and bars over the years, including advising leading cocktail bar group, Be at One, on a refinancing deal set to expand the group's national portolio, read more about this here.

In addition, Alex Dumphy talks to Pub & Bar magazine on how restaurant and bar operators raise funds to grow their businesses - read the feature.

To find out more about our Restaurants, Bars and Pubs sector, please click here.

Notes to editors

AG's Restaurants, Bars and Pubs team has a breadth of expertise advising a client roster of household names on a wide range of sector issues, encompassing: M&A, employment, data, IP, property, financing, restructuring, health & safety, reputation and risk & compliance. Highlights include:

  • Admiral Taverns Group: funding of £36m to finance the purchase of a portfolio of tenanted pubs from Heineken’s Star Pubs and Bars
  • The Alchemist: private equity backed buy out and roll of the Alchemist cocktail bar and restaurant chain
  • Byron Burgers: general property matters
  • Bleeding Heart Group: new restaurant advice
  • Be at One: refinancing deal to expand cocktail group's portfolio
  • Chaophraya: term and capex facilities
  • Cirrus Inns: acquisitions/disposals and a full range of employment issues
  • Giggling Squid: £6.4m investment in the Thai restaurant chain by the Business Growth Fund to support future expansion
  • Gusto Restaurants: acquisition by Palatine Private Equity of the Gusto chain, sited across the North of England and Scotland
  • Hammerson: on several key pre-lets to national restaurant chains including Frankie & Benny's, Nandos & Prezzo
  • Las Iguanas: £24m secondary MBO sale of the UK-wide Las Iguanas restaurants chain to Bowmark Capital
  • Meadowhall Retail Park: lettings to restaurant operators including 5 Guys, Carluccios, Ed's Easy Diner, Giraffe, TGI Friday, Wagamama and Yo! Sushi
  • Patisserie Valerie: recapitalisation of the business, including roll-out and bolt-on acquisitions
  • Pho: advising its lenders term and capex facilities provided to the Vietnamese restaurant chain
  • Red's True Barbecue: various investments by private investors into the UK-wide chain of American-style Barbecue restaurants
  • Seafood Pub Company: general property acquisitions and PE investment from Penta Capital
  • Advising the senior lender on the MBO of Bistrot Pierre, a Livingbridge investment