Vodka Revolution owner plans to sell down stake via London float
REVOLUTION Bars Group, the owner of UK high street bars Vodka Revolution and Revolucion de Cuba, is preparing a London stock market float by the end of March.
The group, which owns 58 bars in towns and cities across the country, yesterday announced its intention to list, in a move that could value Revolution at up to £90m.
“We believe that a successful listing will complement the group’s growth strategy and help support our roll-out plans for the group’s branded bars in the UK,” said chief executive Mark McQuater.
Private equity firm Alchemy Partners, which owns Revolution and several other bars through The New Inventive Bar Company, plans to sell down its stake in the chain after a decade of ownership.
Revolution reported full-year revenue of £108m for the period ending 30 June 2014 and £58m in the first half to 31 December 2014.