Revolution Bars reveals value ahead of stock market flotation

REVOLUTION Bars Group is to price its shares between 200p and 240p when it floats next month.

The upmarket food and cocktails specialist said that at its mid-price range it will have a market value of £110m.

Private equity group Alchemy, which has owned the business formerly called Inventive Leisure since 2006, plans to sell between 76.4% and 96.2% of its stake.

Final pricing and conditional dealings will begin on March 13, the company said.

The Initial Public Offer will be made by way of an institutional offer of shares to certain institutional and other investors in the UK and elsewhere and an intermediaries offer to intermediaries for distribution to retail investors in the UK, the Channel Islands and the Isle of Man.

Revolution chief executive Mark McQuater said: “Revolution Bars Group is one of the leading players in the UK’s premium drinking out and casual dining out markets, with a well-invested trading estate of 58 bars that is generating market-leading returns in this sector.

“Both Revolution and Revolución de Cuba are premium brands which target a growing market where we believe a premium offering is in demand.  We believe that a successful listing will complement the group’s growth strategy and help support our roll-out plans for the group’s branded bars in the UK.”