Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Mercato Metropolitano plans equity raise to support expansion

22 February 2021 by
Mercato Metropolitano plans equity raise to support expansion

London food hall operator Mercato Metropolitano is aiming to raise £5m-7m in a funding round in the next few months.

The company, which is due to open a further three London markets this year, is planning to launch an equity fundraise in the second quarter of 2021.

The Caterer understands this will be used to support the expansion of its international team as the brand looks to grow in major cities in Europe and the United States.

Around £1m will be set aside to support an incubator programme for traders in partnership with global cookery schools. This will include competitions for graduating chefs, who will be supported in opening their first business within one of its markets.

Mercato Metropolitano was founded by Andrea Rasca, a former vice-president of Italian food hall brand Eataly, in Milan in 2015. It has opened two London food halls in Elephant & Castle in 2016 and in a former Mayfair church in 2019.

Markets in London's Canary Wharf and Elephant Park are due to open this summer, followed by Ilford in autumn.

By 2025 Mercato Metropolitano plans to open sites in Atlanta, Boston, Miami, New York, Berlin, Lisbon and Milan.

Amedeo Claris, managing director at Mercato Metropolitano, told The Caterer the group was moving forward with deals and expansion plans despite delays due to coronavirus.

Mercato Metropolitano's traders are banned from offering heavily processed food or drinks, and dishes are served in recyclable and compostable containers.

Claris said: "We're not creating a chain of businesses, we're creating a movement or artisans trying to change the food system."

He added that regional UK openings were expected after the group's international expansion, with discussions already taking place with landlords in Birmingham and Manchester.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking