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Drake & Morgan acquires two more sites in the City

24 January 2017 by
Drake & Morgan acquires two more sites in the City

Bar and restaurant operator Drake & Morgan is to open two new sites in the City of London this autumn, both in new developments.

Drake & Morgan acquired Corney & Barrow Wine Bars (C&B) in July 2016 and has ambitions to grow to 25 sites by the end of 2017. Sites at West India Quay and St Peter Square Manchester will open in the summer.

Meanwhile, the company has sold two sites which "no longer fit the brand's portfolio". C&B Masons Avenue has been sold to the Davys Group and the bar at Monument to the London Cocktail Club. There are no redundancies and the existing C&B teams will relocate to other Drake & Morgan bars and restaurants.

Drake & Morgan was founded by managing director Jillian MacLean and the restaurant investor Imbiba Partnership in 2008 with the opening of the Refinery in Southwark. It is backed by Bowmark Capital, following a £30m management buyout in 2013. At the time, the management of the business said it believed there was capacity for as many as 70 Drake & Morgan venues across the country.

Drake & Morgan increases turnover by 17% >>

Drake & Morgan acquires three sites >>

Drake & Morgan could grow to 70 sites after £30m management buy out >>

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