Cabana secures fourth site, new funding

By Mark Wingett

- Last updated on GMT

Related tags: London

Cabana has raised around £3m of funds to support its rollout
Cabana has raised around £3m of funds to support its rollout
Cabana, the fledgling Brazilian concept led by David Ponte, founder of the Momo and Mocoto restaurants and restaurateur Jamie Barber, has secured its fourth site in London at the Designer Outlet at Wembley and raised £3.5m of new funding.

As reported by our sister title M&C Report, the group, which is understood to be in talks on a fifth opening in North London, has secured a further £2m through fundraising from existing shareholders, including Nick Leslau, and friends, plus a new £1.5m debt facility from HSBC.

It is currently on site at the scheme on a 5,000sq ft unit, which will be its biggest yet, with an opening scheduled before the year end.

The site will join Ping Pong, Coast to Coast, Handmade Burger Co., Zizzi, Nando’s, Las Iguanas, TGI Friday’s, Sugar Lounge, Frankie & Benny’s, Prezzo and Jimmy Spices at the Quintain scheme.

It has secured the prime site at the Wembley development, which overlooks the stadium and has a dual entrance.

Sixth opening

The group, which was recently named the F&B Retailer of the Year at Westfield Stratford by Westfield, is believed to be targeting a unit in south London for its sixth opening.

The company, which has raised around £3m of funds to support its rollout, has opened three sites in the capital since its launch in November 2011.

Around 80 per cent of the new funding has come from existing shareholders, who are thought to include Jonathan Lander, chief executive of investment firm Volvere and Nick Leslau, the property investor who heads up the Max Property Group.

Earlier this year, it signed a publishing deal with Quadrille (publishers of Gordon Ramsay and Antonio Carcluccio) for the book which comes out on May 22 next year to tie into the World Cup in Brazil. The book is set to be published in six languages and launched internationally.

David Muslin from CBRE acted on the deal.

Related topics: Business, Restaurants, Venues

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