Barracuda had bought seven sites from Old Monk for £7.8m, including three of the company’s top performing Springbok bars.

The Springbok sites are in Newquay, Manchester and Houndsditch, London.

Barracuda also announced that sales at its Varsity bars had risen 13.8% year-on-year during Fresher’s Week.

The company bought the 20-strong student-dedicated estate in September last year from Wolverhampton and Dudley. Fresher’s Week was taken to be the first week in October.

Mark McQuater, the group’s chief executive, said: "We have a strong commitment to the Varsity brand and that is also true of our customers. What is pleasing is that these results represent a like for like position with no significant new investment."

Since buying the estate, Barracuda has refurbished venues in York, Bradford and Wolverhampton. In the coming months new roll-outs will follow in Derby, Sunderland and Durham.