The Alchemist, the Palatine Private Equity-backed, Simon Potts-led cocktail bar and restaurant concept, is set to increase its presence in the capital, with two new openings, MCA understands.
The 13-strong group, which currently operates one site in the capital at Bevis Marks in the City, is understood to be close to adding sites in St Martin’s Lane, Covent Garden and in Old Street to its openings pipeline for this year.
At the start of this year, the company secured an additional £16m finance package through Santander to aid further growth.
The new capital will be invested into the continued innovation of the brand, rejuvenating existing sites and the acquisition of new locations.
The group recently opened in Nottingham, and has further openings this year confirmed for Bristol and Cardiff.
Palatine Private Equity supported a management buy-out of the business from Living Ventures in 2015.
