Arc Inspirations secures £7m funding for growth

By Sophie Witts contact

- Last updated on GMT

Arc Inspirations secures £7m funding for growth

Related tags: arc inspirations, Restaurant, Public house, Santander

Northern restaurant and bar operator Arc Inspirations has secured £7m funding towards its expansion.

The group, whose brands include Banyan Bar & Kitchen, The Pit and Manahatta, has agreed a new deal with Santander that will double its existing funding.

It comes ahead of plans to expand Arc’s 18-strong portfolio across the north of England.

The funds will support the opening of a Box bar in Leeds next month, and a Manahatta cocktail bar and Banyan bar-restaurant in Manchester in October.

The company says it has a “strong pipeline” of sites for 2019 and beyond.

Arc's ’ revenue rose 8.6% to £24.2m in the year to 1 April 2018, while EBITDA was up 33% to £3.2m.

Andy Whelan, finance director of Arc Inspirations, says: “That we were able to secure this new and expanded funding at a time when some hospitality businesses are reporting both difficult trading and a challenging funding environment, speaks to the clearly differentiated position of Arc Inspirations and our vision for the business, which Santander shares.”  

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