A company based in Ashton-under-Lyne is currently undergoing discussions over the possible purchase of four bars, with the potential cost of these purchases estimated at £16 million.
Revolution Bars Group currently runs two chain bars – Revolucion de Cuba, a rum bar, and Revolution, a vodka bar – and is now hoping to buy another four located in Edinburgh. The four bars in question revealed an aggregate £3.3 million EBITDA for the financial year that ended in April 2015.
Should the purchases go ahead, they would enhance Revolution Group’s earnings for the upcoming financial year by a significant degree, as well as growing its portfolio and incorporating a new brand.
The Ashton-under-Lyne firm Plans to use new debt to finance the acquisitions, by issuing its vendors with ordinary shares and placing a comparatively small number of brand new ordinary shares in exchange for money.
In its London Stock Exchange statement made to announce the Plans, Revolution Bars Group stated that talks over the possible purchase of the bars were continuing, but that it was not yet possible to say whether an agreement would be reached for the deal to move forward.
It added that another statement would be forthcoming at a later date.
If Revolution Bars Group, which runs 62 UK outlets, buys the new bars it will be able to call on places that offer promotional Drinkware to help it promote them.
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