Nightcap PLC has acquired the London-based bar group, Barrio Familia for a reported £4.9 million.
The purchase means that Nightcap will become the operator of the four Latin American-inspired Barrio bars with locations in Angel, Brixton, Shoreditch, and Soho, as well as Soho members' cocktail bar, Disrepute.
“When Nightcap was founded, one of my goals was to acquire a bar group that has the potential to maximise on the winning combination of Margaritas and Tacos – a personal favourite of mine,” said Sarah Willingham, chief executive of Nightcap.
“Over the past year, Nightcap has closely observed the significant growth of the Tequila market with great interest, and we believe that this Acquisition has significant potential for UK-wide expansion.
The deal comes as Nightcap’s third expansion in the calendar year following the purchase of The Cocktail Club (formerly The London Cocktail Club) in January 2021 and the Adventure Bar Group in March.
“Nightcap has been fortunate enough to have had a strong first year, and we are so pleased to be heading towards the end of 2021 with another fantastic concept in our portfolio.
As always, we would like to thank our stakeholders for their continued support, all our amazing staff, and our wonderful customers for continuing to bring their energy to Nightcap’s bars.”