The bar, which opens in a week in the former Slug and Fiddle in Ecclesall Road, Sheffield, is the second Varsity outlet in the city, and the 20th in total.
Barracuda's chief executive, Mark McQuater, said the first true group-developed Varsity site was merely "the first of many we have in the pipeline." He said: "Varsity is highly successful and the new Sheffield pub will build upon the excellent reputation the brand has among students and other customers across the country."
Like all Varsity outlets, the new bar features the "vcard" membership scheme which entitles customers to 25% off drinks for 12 months and a two-for-one voucher book giving free drinks. It also sell two meals for only £5.