Newcastle-based leisure operator, Vaulkhard Group, has secured a £4.5m funding package which will aid its expansion plans.
The family-run business, which owns a number of bars and pubs in the city including Barluga, Redhouse and The Beehive, has already acquired two new pubs thanks to the package from HSBC UK.
Located in central Newcastle, Vaulkhard Group has acquired the Town Wall and the Bridge Tavern venues, bringing the number of trading sites in its estate to 15.
Vaulkhard Group finance director Craig Bell said: “There was a slowing of investment into hospitality businesses throughout, and in the aftermath of, the pandemic.
“We saw this dip in the market as an opportunity to invest in premium sites and we will continue to search for similar opportunities in and around the North East as we look to further grow the business.”
“It’s important for us to ensure that our great city retains its reputation as a successful leisure hub, but with the challenges of the pandemic, it was difficult to find a bank that aligned with our ideas and aspirations.
Vaulkhard said it was looking to make further acquisitions in the North East over the coming years as it continues to grow its portfolio.
Speaking to MCA last year, Ollie Vaulkhard said the group had refocused its business during the pandemic, shifting away from late-night bars and into day-time venues.
