The Alchemist to open in Cheltenham

By James McAllister

- Last updated on GMT

The Alchemist to open bar and restaurant in Cheltenham

Related tags: Bar, Restaurant

All-day restaurant and bar group The Alchemist is set to open a site at The Brewery Quarter in Cheltenham, Gloucestershire next year as it continues its UK expansion.

The announcement of the new 4,539 sq ft location comes a month after the group confirmed it was to open four further UK restaurant and bars​: two in London, one in Portsmouth and another in Birmingham, the last of which is set to open next month. 

The company, which has previously said it is on track to achieve revenues of £50m at the end of the financial year, launched its 16th​ site in London’s Shoreditch back in May.

Founded in Manchester in 2010, The Alchemist, which was formerly part of the Living Ventures stable, was bought out by Palatine Private Equity in 2015 and has since seen turnover increase four-fold.

In January last year the group also secured a £16m funding package from Santander to continue its growth across the UK, and has since opened four sites including the Shoreditch one.

Simon Potts, managing director at The Alchemist, said last month that working with private equity had enabled the group to both achieve scale and build a supportive infrastructure.

He also confirmed that the management team was now looking towards global expansion, with a view to begin targeting overseas opportunities in the next few years.

Related topics: Venues

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