Corney & Barrow operates 11 wine bars, and was established in 1983. It runs ten C&B sites and one restaurant and bar, Devonshire Terrace.
The group’s wine merchant business – which holds two Royal Warrants and dates back 230 years ‒ will continue to operate independently under the direction of chairman Percy Weatherall and managing director Adam Brett-Smith.
The acquisition forms part of Drake & Morgan’s strategy to expand to at least 25 sites by 2017, across London and regionally. Over the next 12 months it plans to add five more sites, including at Heathrow T4, Spinningfields and One St Peters Square, both in Manchester, Edinburgh and London’s West India Quay.
Jillian Maclean, managing director of Drake & Morgan said: “The acquisition strengthens our presence in the City and we look forward to working more closely with the Corney & Barrow wine merchant business, introducing its fantastic portfolio of wines across the Drake & Morgan estate.”
Weatherall added: “We are delighted that Drake & Morgan has acquired our wine bar business and we look forward to a continued and productive relationship as we work with the group to build its wine offering.”