Ciara Allan will join Arc as CFO in September, aiming to drive financial growth. She brings a wealth of experience from operating in privately-owned and private equity-backed businesses across a plethora of industries.
She previously led the sale of Cooplands Bakery to EG Group and has supported shareholders on the asset sale of the Woven Group.
Allan, who is replacing Tim Knockton, is joining Arc amid a period of growth as it looks to expand its footprint, funded b a £19m investment from BGF.
Growth plans
Furthermore, Laura Lewis has been promoted to the board as marketing director following three years with the multi-site business as head of marketing.
With plans for the group to develop and open at least four flagship sites over the next 12 months, two new board additions will join CEO and co-founder Martin Wolstencroft as well as managing director Anni Opong and property director Nik Lowery on the company’s main board.
Arc’s estate includes 19 bars across the Midlands and north of England under a trio of brands – Banyan Bar & Kitchen, Box and Manahatta.
Last month (May), it announced the opening of its largest Box site to date in Brindleyplace, Birmingham.
October 2023 saw Arc report record figures for its most recent financial year ending 31 March 2022 and it is aiming to open 50 sites in the next seven years.
Vast experience
On the new appointments, Wolstencroft said: “We are thrilled to be adding two fantastic leaders to our board.
“Ciara has vast experience as a CFO and as a leader who has defined and driven the financial strategy of highly successful businesses, including working with BGF and I have no doubt she will be a great asset to Arc during what is a very exciting period of growth for the business.
“Laura’s promotion is richly deserved. Since joining us, she has built a great team and shown an unrelenting dedication and commitment to Arc. She has been an instrumental driver in promoting our brand values and we are excited to welcome her to our board.
“I would also like to thank Tim Knockton, who has been a valuable member of the senior leadership team, Tim played a key role in helping Arc navigate the challenges of the pandemic and in securing investment from BGF and we wish him well for the future.”
