Site Acquisition

RNS Number : 8396O

Eclectic Bar Group PLC

12 August 2014

 



For Immediate Release

12 August 2014

Eclectic Bar Group plc

("Eclectic", the "Company" or the "Group")

Site Acquisition

Eclectic, a leading operator of premium bars in the UK, today provides the following statement.

Eclectic is pleased to report that it has recently signed a 20 year lease on a new site in Sheffield, a key target city for the Group, bringing the total number of sites to 23. The property is situated on the popular West Street, set over two levels with ground floor and first floor totalling 6,500 square feet and also includes its own exclusive outside area. The Company intends to develop this unit in the financial year ending June 2015 to a Lola Lo and will include the Group's popular 'Island Grill' food offering.

Enquiries:

Eclectic Bar Group plc       (www.eclecticbars.co.uk)	Tel: [phone]
Reuben Harley, CEO John Smith, CFO
Panmure Gordon	Tel: [phone]
Corporate Finance
Andrew Godber / Atholl Tweedie / Duncan Monteith
Corporate Broking
Charles Leigh-Pemberton / Maisie Atkinson
Instinctif Partners	Tel: [phone]
Matthew Smallwood
Justine Warren

About Eclectic

Eclectic is a leading operator of premium bars in the UK. Eclectic's portfolio comprises 23 venues located in major towns and cities, predominantly targeting a customer base of sophisticated students midweek and stylish over 21s and young professionals at weekends. The Company focuses on delivering added value for its customers, with premium product ranges, high-quality music and entertainment, and a commitment to high service levels and standards. Eclectic trades across its estate under a variety of brands, including Embargo 59, Lola Lo, Sakura, Dirty Blonde, Lowlander, Coalition, Po Na Na and Fez Club.

The Group's management team, led by Reuben Harley, who has over 25 years' experience of working in the UK pub and bar industry, is implementing a strategy to grow the business through the development of new sites either under the Company's existing brands or using brands which can be successfully maintained, as well as business acquisitions as appropriate opportunities present themselves.

Lola Lo 11 sites                     

Brighton

Cambridge

Edinburgh

Derby

Lincoln

Liverpool - conversion pending

Norwich

Oxford

Reading

Manchester

Sheffield - conversion pending

Sakura 3 sites

Bournemouth

Manchester

Reading

Po Na Na 3 sites

Bath

Bristol

Wimbledon

Fez Club 2 sites

Cambridge

Putney

Coalition         Brighton

Dirty Blonde   Brighton

Lowlander       Covent Garden

Embargo 59    Kings Road

 

END

 

 

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