Heartwood Collection secures £100m funding

Heartwood Collection, formerly Brasserie Bar Co, has secured additional funding to support its rollout into freehold pubs and pubs with rooms.

As part of this funding, a new banking facility of £50m has been agreed with OakNorth Bank. On top of this, Alchemy Partners is expected to add a further £50m investment into the group to support its growth. Alchemy Partners has already committed £50m to date.

The new funding will be used specifically to acquire freehold pub sites and comes off the back of a recent rebranding from Brasserie Bar Co to Heartwood Collection. 

"This additional support from OakNorth and Alchemy is testament to the strength of the business that the team at Heartwood is building," says Richard Ferrier, managing director of Heartwood Collection (pictured). "It will enable us to build on our success to date as we focus on growing Heartwood Collection into the UK’s leading premium pubs and pubs with rooms business."

Aiming for 60

Heartwood has already completed the acquisition of 11 freehold sites over the past 12 months and is close to completing on a further five in the summer of 2023. It is aiming to reach at least 60 sites by June 2027. 

"Heartwood Collection is one of our longest-standing clients and [chairman] Mark Derry and the team are a great example of the excellent entrepreneurs we have in the UK," says Ben Barbanel, head of debt finance at OakNorth Bank. "The Heartwood Inns and Brasserie Blanc brands are some of the finest the UK hospitality sector has to offer. Despite ongoing economic challenges, the business is set for future growth which is a testament to Heartwood's leadership and the brilliant team that’s been built. Working alongside the hugely talented team at Alchemy Partners was once again very enjoyable and we hope to complete many more transactions with them in the future."

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