Mon, 17 Oct 2011 | BUSINESS SALE
The owner of the Revolution bars, private equity firm Alchemy Partners, is set to place the business on the market. Alchemy has asked bankers to step forward with a pitch for the role to sell the Revolution vodka bar business, which is expected to take place early 2012.
There are over 60 Revolution bars in the UK, with seven in London, four in Manchester, and the rest in other towns and cities in England, Wales and Scotland.
Alchemy bought a holding stake in Inventive Leisure, Revolution’s parent company, in 2006 for £42.5 million.
Its founders Roy Ellis and Neil Macleod ran bars and nightclubs in Manchester before setting up Revolution in 1996. The pair remain the directors of the firm. Revolution was placed at 49th in the 2009 'The Sunday Times 100 Best Companies to Work For' list, and its workforce has grown to around 1,800 people.
In other recent news food manufacturer Peter’s Foods has become the sole supplier of pie, pasties and sausage rolls to Revolution, with the additional intention of introducing party foods, children’s foods and tapas in 2012.
Neil Court-Johnston, managing director of Peter’s Food Service commented, “We’re thrilled to be working with Revolution. They are such an incredible success story and have grown at a rapid rate.”
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