Alchemy acquires Brasserie Bar Co

The deal will underpin the next phase of the company’s growth, with the operator looking to accelerate the expansion of its White Brasserie Co pub business from 18 to 70 sites over the next five years.

Brasserie Bar Co, which also owns 14 Brasserie Blanc restaurants, was previously backed by Soho Square Capital.

Founded by Michelin-starred chef Raymond Blanc, he is understood to have sold his minority stake, though he is retaining a small interest and will remain involved with the business after the deal.

Potential for £100m spend

Alchemy is reported to be interested in taking on freehold and leasehold pubs, which could push its investment over the five-year plan to as much as £100m.

Mark Derry, who will stay on as executive chairman alongside Richard Ferrier as managing director, said the deal opened up the path for the business to operate more pubs and provide more opportunities for its colleagues.

Derry said: “This will enable us to build on our achievements to date and drive further growth across the group.”

Change of fortune

The sale and ambitious expansion plans represent a change of fortunes for the business that, during the coronavirus outbreak, sold five sites that were struggling. The group said it had rebounded strongly from the impact of Covid-19 and continued to trade well across all its sites.

Thomas Boszko, partner at Alchemy Partners, commented: “Brasserie Bar Co do food-led pubs exceptionally well – a combination of their differentiated product and a very experienced team who know exactly what they’re doing.

“This investment is all about backing that team with the capital they need to expand the estate, both in leasehold but also freehold. We are confident in the future of the industry and believe there couldn’t be a better time to do this.”