Arc Inspirations raises £7m for UK-wide expansion
The group aims to deliver at least four openings per year over the next five years, as well as set in motion a refurbishment programme at existing Manahatta sites
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Arc Inspirations, the operator of Banyan, BOX and Manahatta, has raised £7m towards an accelerated expansion plan across the UK.
The news comes after the hospitality group secured a £4m load from HSBC, alongside a £3m equity boost from shareholders, including BGF, which has backed the group since 2022.
Arc Inspirations has ambitions to deliver at least four new openings per year over the next five years, as well as set in motion a refurbishment programme at existing Manahatta sites.
Martin Wolstencroft, co-founder and CEO of Arc Inspirations, said: “We’re grateful to the HSBC team and to our shareholders who continue to believe in our business and support us on our ambitious growth journey. Together we have achieved a number of key milestones, with four successful new site openings in 2023, and our most successful festive period to date.
“Each success is testament to our team and culture, and I thank each and every member of our team as we continue to build what we believe is the best bar business in the country.”
The group’s next opening will be its debut Scottish site – Manahatta Edinburgh – the brand’s 10th venue, which will launch later this summer.
In addition, the company is eyeing further launches in London, Liverpool, and Cardiff in 2024, creating around 300 new jobs.
In 2023, Arc Inspirations opened BOX sites in Nottingham and Birmingham, as well as two Manahattas in Newcastle and Sheffield.
