The debt advisory team at AlixPartners has advised Brasserie Bar Co, the operator of casual dining brands Brasserie Blanc (Blanc) and the White Brasserie Company (WBC), on its refinancing and growth capital debt raising supported by OakNorth and ESO Capital.
Mark Derry, CEO of Brasserie Bar Co, says: “AlixPartners delivered first class advice throughout the refinancing process, marketing our complementary brands to the lending community and supporting us all the way through to documentation. We are delighted to have secured a new long term, bespoke debt financing from OakNorth and ESO Capital and look forward to working with them to expand the current estate over the coming years.”
Brasserie Bar Co currently delivers a leading premium casual dining experience at 20 Blanc sites concentrated in the South East of the UK, alongside other regional locations. The Blanc brand is complemented by the exciting WBC pub concept in 15 sites, with venues located in affluent towns surrounding the M25, blending an authentic French brasserie experience within an English pub environment.
Brasserie Bar Co, backed by private equity firm Core Capital Partners LLP, completed it’s refinancing on 31 May 2017. The new financing package will support the roll out of a strong pipeline of sites which includes a new Blanc Brasserie venue at the Bournemouth Marriott Hotel, Highcliff opened in June 2017. At the same time WBC, which has opened four new sites in the last 12 months, will seek to continue its roll out with two further venue openings planned by the end of 2017.
AlixPartners, which has a wealth of experience in the leisure and hospitality sectors, assisted and advised the company through all phases of the transaction.
Tom Cox, Director for AlixPartners, says: “Despite the wider economic headwinds, Brasserie Bar Co has continued to deliver impressive like-for-like sales growth while other operators have struggled. OakNorth and ESO Capital are the ideal partners to support the next phase of development, and we were delighted to secure a flexible financing, with substantial undrawn funding capacity that will allow the business to exploit this exciting growth opportunity and strong pipeline of new sites.”
