Revolution confirms stock market plans

The company, which operates the Revolution and Revolución de Cuba brands, said there is scale to grow the combined estate to around 140 bars. The directors say they believe that the estate could grow to 140 sites - split 100/40 between the two brands respectively.

The group is currently targeting a roll-out of up to five new bars per annum by the end of the 2017 financial year, with a likely initial focus on new Revolución de Cuba bars.

In a statement the group said it was likely that admission will take place in March, and said it plans to target larger sites for its expansion.

The company also announced the appointment of Keith Edelman as non-executive chairman, and Michael Shallow as an independent non-executive director.

Revenue​

Revolution Bars Group reported revenues of £108.7m for the year ending 30 June 2014, up from £104.5m in 2013 with adjusted EBITDA of £13.2m (2013: £10.9m).

For the six months ended 31 December 2014, the group’s current bar operations had reported revenue of £58m (six months ended 31 December 2013: £56.1m) and Adjusted EBITDA of £7.9 million (six months ended 31 December 2013: £7m).

Mark McQuater, chief executive, of Revolution Bars Group, said: “Revolution Bars Group is one of the leading players in the UK’s premium drinking out and casual dining out markets, with a well-invested trading estate of 58 bars that is generating market-leading returns in this sector.

"Both Revolution and Revolución de Cuba are premium brands which target a growing market where we believe a premium offering is in demand. We believe that a successful listing will complement the Group’s growth strategy and help support our roll-out plans for the Group’s branded bars in the UK.”