Revolution Bars has announced that it intends to float on the stock exchange next month as it seeks to expand its portfolio.
The company, which trades as Revolution and Revolución de Cuba, has 58 bars around the UK. It wants to expand this with 140 new sites.
For the six months to 31 December 2014, the company posted revenue of £58m, up from £56.1m a year ago, and an adjusted EBITDA of £7.9m, up from £7m.
It also reported revenue of £108.7m in the year to 30 June 2014, up from £104.5m a year earlier.
There are currently 53 Revolution bars and five Revolución de Cuba bars, but the company hopes to grow its estate to 100 and 40 respectively.
It is planning an expansion of up to five new bars per year by the end of the 2017 financial year, with an initial focus on new Revolución de Cuba bars.
Chief executive Mark McQuater said: “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.”
