Revolution considering acquisition of Deltic

10 September 2018 by
Revolution considering acquisition of Deltic

Revolution Bars Group has confirmed it is in "the very preliminary stages" of considering an acquisition of the Deltic Group.

Revolution added it is "only in very preliminary dialogue" with Deltic and "no agreement has been reached", so there can be no certainty as to the terms, timing or structure of any such transaction, nor as to whether any such transaction will occur.

Deltic, which runs 57 nightclubs and bars and is Revolution's major competitor in the late-night market, made an ultimately failed approach to buy Revolution Bar Group last year, costing the business £1.1m for the aborted process.

After months of back-and-forth offers between Revolution, Deltic and Stonegate, Stonegate dropped its £101.5m takeover offer after it emerged that 54% of Revolution's shareholders voted against the deal. Chief executive Mark McQuater resigned shortly afterwards and has been replaced by Rob Pitcher.

Deltic acquires 3% stake in Revolution Bars >>

Stonegate walks away after Revolution Bars Group shareholders reject £101.5m offer >>

Deltic hails wet-led recovery after reporting £1.1m rise in EBITDA >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

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.


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