The New World Trading Company (NWTC) has secured a further £5.6m investment from NatWest to help fund an ambitious roll-out programme.
The bar and restaurant group operates 22 venues across the UK and is continuing to expand. Since the last funding round in January 2017, NWTC has opened seven new sites, including four additions to The Botanist brand, in Didsbury, Reading, Manchester’s MediaCityUK and West Bridgford, as well as The Canal House in Birmingham and its new concept, The Florist, in Bristol and Liverpool.
NWTC turnover has grown by over 60% since its acquisition by leading mid-market private equity specialist Graphite Capital in 2016, ensuring a place in the Sunday Times Fast Track 100 Companies for three years running.
Apart from seeing the completion of the major refurbishment of the group’s Manchester flagship, The Oast House, the remainder of 2018 will also bring further openings for The Botanist, in both Coventry and Cheltenham.
2019 will see further openings for this cornerstone brand in Cardiff, Exeter and Bath, together with a third site for The Florist, in Watford.
The operator’s ambitious roll out programme will lead to a 25% increase in NWTC staff numbers to well over 1,500.
Chris Hill, chief executive of NWTC, said: “We are grateful to NatWest for their continued support and belief in our brands, and to Graphite for their ongoing backing and encouragement.
“Our unique proposition is proving increasingly popular with the public across the UK, and we are looking forward to taking The Botanist and The Florist to new and exciting parts of the country.”
Mark Porter, director of leisure at NatWest, added: “We at NatWest have admired the New World business and management team for a number of years and they continue to provide, via a number of wonderful formats, an outstanding consumer environment and experience. As such, we are delighted to be providing further support via this increased facility to this first-class business and best in class management team.”