Soho Clubs chief buys two new venues
Soho Clubs & Bars' new chief executive Joachim Ritter has marked his promotion with the acquisition of two flagship venues in London.
Last week, the company bought the Candy Bar on Carlisle Street, Soho - one of the capital's first lesbian bars - and took complete ownership of Too2Much.
Ritter said: "Too2Much and the Candy Bar are highly successful and profitable Soho institutions with a very loyal following and strong potential. They constitute great additions to our existing Soho Clubs & Bars portfolio of exciting London venues. We look forward to investing in the aggressive promotion and development of these two venues and remain committed to pursue further high quality acquisition opportunities."
In February, the company took a 30% stake in Too2Much, formerly known as Raymond's Revenue Bar, and last week acquired the remaining 70%. The acquisitions bring the total number of outlets owned and managed by Soho to 10 - making it's the second largest privately-owned club and bar operator in the south east. No figures are being disclosed over acquisition costs.
Ritter joined Soho in November 2005 as an adviser to the board and has been instrumental in strengthening the company's management team. Company chairman Geoffrey Rose, who founded Soho Clubs & Bars in September 2004, said: "He (Ritter) is the right person to drive the company forward at this exciting time."
Ritter added: "The company has tremendous growth opportunities and I look forward to expanding the business further by maximising the potential of its brands."
Ritter replaces Jeremy Gordeno at the helm of Soho Clubs and Bars. Gordeno resigned from the position at the start of the year and has since bought 10 leasehold nightclubs under his new company Summit Clubs.
