Nightcap (AIM: NGHT) has acquired London-based bar group, Barrio Familia Ltd and has become the owner and operator of five additional bars: Barrio’s four bars, scattered across the capital, and the iconic Soho members’ club, Disrepute.
Barrio’s Latin American-inspired, tequila-led, cocktail bars, situated in the popular London areas of Shoreditch, Soho, Brixton and Angel, and the high-end ‘60s themed members’ cocktail bar, Disrepute, are complementary to the other brands run by Nightcap, The Cocktail Club [née The London Cocktail Club], and The Adventure Bar Group’s Tonight Josephine and Blame Gloria.
Nightcap, which was founded during the 2021 lockdown period by ex-Dragon’s Den entrepreneur Sarah Willingham, and entrepreneur Michael Toxvaerd, has thrived since the reopening of UK hospitality and nightlife. The company recently announced an outstanding Q1 performance, including a recent cash position of over £12.2m** and a rapid expansion programme across The Adventure Bar Group and The Cocktail Club businesses.
Sarah Willingham, Chief Executive Officer of Nightcap, commented: “I am absolutely delighted to announce that Nightcap has acquired Barrio Familia, which includes Barrio’s four Latin American-inspired cocktail bars and the iconic ‘60s themed members’ cocktail bar, Disrepute.
“When Nightcap was founded, one of our 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! Over the past year, the Group has closely observed the significant growth of the tequila market with great interest, and we believe that this acquisition has huge potential for UK-wide expansion.
“Nightcap has been fortunate enough to have a very strong first year, and we’re so pleased to be heading towards the end of 2021 with another fantastic concept in our portfolio. As always, we’d like to thank our shareholders for their continued support, all our amazing staff, and our wonderful customers for continuing to bring their energy to Nightcap’s bars.
“We can’t wait to update you on what we have got planned for Barrio Familia!”
Ferdie Ahmed, Founder of Barrio Familia remarked on the acquisition: “Barrio was inspired by my travels to Latin America and my passion for music. The goal was to take all the amazing sights, sounds, flavours and adventures and create the perfect Latin clash of colourful and wanderlust-inducing venues for the British public to enjoy.
“What started as a passionate plunge into the unknown, venturing into business with my friends Ani Kyriacou and Sat Ghuman, turned into an amazing journey of opening fun-fuelled and creative hospitality environments across London.
“We are absolutely thrilled for the next step in Barrio’s journey. The dream has always been to see a busy Barrio in every big party neighbourhood of the UK and what other way for Barrio Familia to realise this than by joining the Nightcap family. Having closely followed and admired the Group’s other brands, we’re confident that the business that we’ve poured our hearts and souls into building, will be passed into trusted hands and I am personally excited to be continuing my journey as I join the Nightcap team.
“It’s given me great pleasure to see how the expansion of Barrio across London has touched so many people’s lives. I’d like to take this opportunity to thank all our staff and the many guests we’ve welcomed for all the support over the years. I’m really excited to take Barrio to the rest of the UK, finding new life-long fans along the way!”
