Investment in NWPC Announced...
HILL CAPITAL PARTNERS F & B FUND COMPLETES INVESTMENT IN NEW WORLD PUBCO
The development capital transaction will support the rapid growth of the Oast House and Botanistpub formats
Hill Capital Partners Food & Beverage Fund, the specialist fund operated by Paul Campbell's Hill Capital Partners and LDC, has invested £2.7m of development capital in New World Pubco Limited.
New World Pubco, which was founded and developed by Tim Bacon and Jeremy Roberts of Living Ventures in 2011, currently operates two highly successful pubs, The Oast House in Spinningfields, Manchester and The Botanist in Alderley Edge. A second Botanist pub has just opened on 28 March at the new Leeds Trinity shopping scheme. The pubs offer a unique and wide range of local traditional cask and craft beers, a creative cocktail offering and a simple yet innovative food menu encompassing traditional pub favourites as well as items cooked on a BBQ and rotisserie - including the trademark Hanging Kebab.
The Oast House in Manchester recently won the award for Best New Site 2013 at The Publican Awards.
Following the investment a dedicated operational management team will continue to lead the business' expansion into new pub locations across the UK. Paul Campbell and Living Ventures' Tim Bacon and Jeremy Roberts will be Non-Executive Directors of New World Pubco Limited.
Paul Campbell, founder of Hill Capital Partners LLP, comments:
"I am delighted to be investing in this fabulous young business alongside Tim Bacon and Jeremy Roberts. As a customer I was immediately won over by the fantastic drinks and food, and also the unique décor of the pubs. I am excited to be supporting the expansion of this excellent business across the UK."
Tim Bacon, CEO of Living Ventures, comments:
"We are delighted to be metaphorically jumping into the sack with LDC and Hill Capital for the development of the New World Pub Company. Grown up investors who get what we are about and see the opportunity."
Richard Barley, Investment Director at LDC, comments:
"We are very excited to be supporting the roll out of New World Pub Company. Backing high quality management teams in high growth innovative businesses is at the heart of LDC and this investment exemplifies this focus, whilst demonstrating our continued commitment to invest in ambitious regional businesses."
Living Ventures is the proud operator of some of the most exciting brands in the UK restaurant and bar market.