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Drake & Morgan searching for new venues

02 | 07 | 13

Bar and restaurant chain Drake & Morgan is looking to acquire suitable venues for the expansion of the company. 

It has appointed retail and leisure property consultancy Lunson Mitchenal to help find the new sites, Caterer and Hotelkeeper reports. 

Drake & Morgan was established in 2008 and has recently launched its sixth venue - the Happenstance - in the St Paul's area of London. It contains both a bar and a restaurant, as well as a private dining area with seating for 32 customers.

Head of catering and leisure at Lunson Mitchenall Theo Fordham said the agreement is a "significant win" for the company and it will allow the consultancy to draw on its expert knowledge of the capital.

"Drake & Morgan has quickly established itself as a strong brand in a highly competitive sector and we hope to announce further acquisitions soon as we roll out Drake & Morgan’s expansion plans in the capital," he commented.

Lunson Mitchenall's primary focus will be on sourcing commercial locations between 5,500 sq ft and 10,000 sq ft, which are situated in areas with high footfall.

Jillian MacLean, Drake & Morgan founder, stated: “We look forward to building on our success to date and accelerating the growth of the company.”

The bar and restaurant chain has ambitious expansions plans and could open as many as 70 new venues across the UK in the near future, which is welcome news for catering equipment suppliers. This is possible following the management buyout of the company that occurred earlier this year. 

Bowmark Capital, the firm behind the Las Iguanas chain, paid £30 million to take charge of Drake & Morgan, which has seen sales increase by 75 per cent to £18 million over the past three years.

Earlier this year, the business received a three-star rating from the Sustainable Restaurant Association due to its commitment to providing healthy options on its menus. This is the highest score possible and the chain's 'skinny cocktail' list, carb-free burgers and gluten-free meals are examples of its healthy offerings.ADNFCR-16001031-ID-801607018-ADNFCR

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