Bar and restaurant group, The New World Trading Company (NWTC), which operates 22 venues across the UK, has secured a £5.6m investment from NatWest, to help fund its roll-out programme.
The group which operates 22 venues across the UK has expanded with seven further openings since its last funding round in January 2017. This included four additions to the The Botanist brand, in Didsbury, Reading, Manchester’s MediaCityUK; and West Bridgford, as well as The Canal House in Birmingham; and its new concept, The Florist, in Bristol and Liverpool.
NWTC turnover has grown by over 60% since its acquisition by mid-market private equity specialist Graphite Capital in 2016, ensuring a place in the Sunday Times Fast Track 100 Companies for three years running.
As well as the completion of the refurbishment of the group’s Manchester flagship, The Oast House, the remainder of 2018 will also bring further openings for ‘The Botanist’, in both Coventry and Cheltenham. Next year will see further openings for its cornerstone brand in Cardiff, Exeter and Bath, together with a third site for ‘The Florist’, in Watford.
The roll-out programme will lead to a 25% increase in NWTC staff numbers to over 1,500.
Chris Hill, chief executive of NWTC, said: “We are grateful to NatWest for their continued support and belief in our brands, and to Graphite for their ongoing backing and encouragement. Our unique proposition is proving increasingly popular with the public across the UK, and we are looking forward to taking ‘The Botanist’ and ‘The Florist’ to new and exciting parts of the country.”
Mark Porter, director of leisure at NatWest, added: “We at NatWest have admired the New World business and management team for a number of years and they continue to provide, via a number of wonderful formats, an outstanding consumer environment and experience. As such, we are delighted to be providing further support via this increased facility to this first-class business and best in class management team.”