Raymond Blanc's Brasserie Bar Co secures new funding to support expansion plans
The company, which operates 11 Brasserie Blanc sites and two White Brasserie pubs across the country, plans to expand to 19 sites by the end of the year and a total of 40 outlets by 2016.
The new funding has been secured as the group, which is led by Mark Derry, begins the conversion process of the eight-strong Chez Gerard chain it acquired from Paramount Restaurants last year in a deal valued at around £9m.
The company is investing £4m to transform the eight sites into Brasserie Blancs through a rolling programme, which is expected to be completed by the end of this year. The former Covent Garden Opera Terrace Chez Gerard restaurant is due to reopen as Brasserie Blanc in May.
It currently operates 11 Brasserie Blanc restaurants, with sites in Berkhamsted and St Paul's the most recent additions to its portfolio.
Alongside the Chez Gerard conversions it is set to add a further Brasserie Blanc unit at the Francis Hotel in Bath, which is due to open at the beginning of June.
The group raised £20m last year through an equity injection from backer Core Capital to fund its expansion.
The company operates the two pubs under its White Brasserie Company umbrella in Teddington and Weybridge.
Derry, chief executive 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."
This story was first published by M&C Report. To subscribe to M&C Report please contact Emily Croft on 01293 846578 or email rzvyl.pebsg@jeoz.pbz.
