Core Capital's Brasserie Bar Co in £23m refinancing

The deal will enable the company to expand its number of locations by six to eight restaurants per year.

The new financing facility comprises a package made up of a £12m senior term loan and £8m in undrawn facilities provided by OakNorth Bank, as well as a £3m mezzanine loan provided by ESO Capital.

Under Core's tenure, Brasserie Bar Co has expanded from five sites to 35. It also launched the White Brasserie Pub Company brand in 2011, which accounts for 15 of the group's sites.

Previous funding
Core Growth Capital led the buyout of Blanc Brasseries from Loch Fyne Restaurants in March 2006 in a deal valued at £10m. In October 2011, the GP invested a further £20m in the company, when it acquired eight Chez Gerard restaurants, formerly owned by Paramount Restaurants, from administrators. The group rebranded as Blanc Brasseries in 2016.

Company
Founded in 1995 by celebrity chef Raymond Blanc and headquartered in Teddington, Middlesex, Brasserie Bar Co operates 35 restaurants under the Brasserie Blanc and White Brasserie brands. It generated losses on ordinary activities before taxation of £2.9m in the year ending July 2016.

People
Core Capital – Stephen Edwards (founding partner).

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