Fri, 04 Jun 2021 | BUSINESS SALE
Paul Reynolds, the founder of popular Glasgow gin and cocktail bar Gin71, has announced plans to sell the business. Gin71 has been put up for sale for leasehold interests for offers over £475,000, Reynolds added. It is being jointly marketed by Smith & Clough and The Business Agency.
Reynolds, who has owned Gin71 and its sister business Cup Tea Lounge for almost a decade, has confirmed plans to sell the business to a younger owner who can help it grow in future. Reynolds added that there is no rush to sell and that he will prioritise finding the right buyer.
Reynolds said: "For me, legacy is quite important. I’ve always focused on taking care of my people and that is going to continue. It’s got to be the right operator. It’s not just about the financial deal on it. There’s more to it."
Reynolds expanded the brand in 2018 with the launching of The Gin Spa in Merchant City, which combines spa treatments with after tea and gin tastings. This business, alongside Gin71 and the Cup Tea Lounge, will all be included in the sale.
However, Reynold's second business, pancake restaurant group Stack & Still, is still in the process of expanding and will not be included in the sale.
Find businesses for sale here.
If you are looking for an exit, we can help!
Lancashire based exceptionally well-known licensed Indian restaurant on the market for a keen acquirer, the venue benefits from reputation and a desirable location.
LEASEHOLD
This is a rare opportunity to acquire a highly regarded coffee house situated in the heart of a bustling Oxfordshire town. Located on the high street, the business benefits from high footfall and a loyal customer base, drawn from an affluent catchmen...
LEASEHOLD
This charming, family-run cafe is nestled in a prime recreation area of Cheltenham. Known for its environmentally friendly practices and commitment to sustainability, the cafe offers a delightful range of coffee, organic teas, sandwiches, and cakes....
LEASEHOLD
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.