Inventive’s Revolution up for sale
17 October, 2011
The private equity team behind the Revolution vodka bar chain want to put it up for sale, the Mail on Sunday reports.
Alchemy Partners paid £42.5m for a majority stake in the Inventive Leisure company in 2006, and now wants to launch a sale “early next year”, having invited banks to pitch for a role in the sale process. The chain currently has 65 bars, mostly in city and town centres, and including two Revolucion de Cuba rum bars.
Inventive recorded post-tax profits of £455,000 in the year to end-June, compared to a loss of £32,000 the year before. It will be interesting to see whether a trade buyer emerges for the Revolution concept, or whether it is passed on to another private equity outfit.
For the full story, see Alchemy Partners plans to sell Revolution vodka bars.