Bar group secures new funding package to support expansion

0

Bar and restaurant group ETM has secured a £10 million funding package from HSBC bank to support its growth plans.

The financing will help the group to keep up with its plans to expand significantly over the next five years, with new bar and restaurant Maple due to open in Westfield White City in west London in the summer. Another two openings are also planned for this financial year.

ETM’s bars and restaurants in London include The Botanist in Broadgate and Sloane Square, Greenwood (pictured), Aviary, Broadleaf, Burdock and The Jugged Hare.

Ed Martin, co-founder and CEO at ETM, said: “We are very excited about the next phase of growth and, with HSBC’s support and financial backing, we will be able to develop and roll out new, innovative, experience-led concepts at a faster rate.

“Our focused approach to acquisition has already set in motion a platform for scalable expansion as evidenced by Aviary’s and Greenwood’s first year of successful trading and the encouraging early performance from our new City bar, Broadleaf.

“This funding package, sourced and arranged by ETM chief financial officer Landen Prescott Brann will allow us to expand more rapidly and we look forward to working with HSBC.”

Mark Frettingham, HSBC’s area director in London West End, added: “We’ve been hugely impressed with the rapid growth and strategic acquisitions of ETM to date and can’t wait to see what’s next for this exciting brand.

“The new £10 million deal, led by relationship director Neil Treadaway, will enable ETM to open more locations in London, bringing its passion and expertise in hospitality to even more customers across the capital.”

Share.

Comments are closed.

[ + ]