MA200 members make Fast Track 100 list
Two members of the MA-200 club — Grand Union and Amber Taverns — have been listed in the Sunday Times Fast Track 100 list.
The list is made up of the fastest growing independent businesses over a three year period. Grand Union is the hospitality sector's highest entry at 52.
Founded in 2006 by Adam Marshall and Adam Saword, the group of 10 bars recorded a 22% year-on-year increase in revenue, with an 18% increase in like-for-like sales in the six months to October 2010. Revenue for the full year is forecast to be in excess of £8.5m. The group now employs over 240 people.
Grand Union is set to open a further two new bars in Farringdon and Paddington in February 2011 with a plan to grow to 20 sites in the next two years.
"It's an endorsement of everything we've been doing over the last four years and comes despite the fact that pubs are still going out of business at a disturbing rate," said managing director Adam Marshall.
"It's also humbling that our customers choose to spend their time and money in our pubs when we're all facing challenging economic times."
Amber Taverns, created by Clive Preston who sold the Nectar pub chain in 2005, placed 63 in this year's list. Amber Taverns, which was backed by Acuity Capital, Maxcap Partners and Unicorn Asset Management on start-up, operates from Stoke to Newcastle.
A management buyout of the group in October was backed by Legal and General Ventures, and there are plans to double Amber's estate of 56 pubs by 2014. Sales grew 63% a year, from an annualised £3.2m in 2007 to £13.9m in 2010.
