Nightcap is building a portfolio of high-quality brands in the Premium Bars sector targeting millennials in the 25-40 age bracket. Nightcap’s first acquisition was the London Cocktail Club. Founded in 2010 The London Cocktail Club operates nine bars across London and one in Bristol. The New York style cocktail bars have their own individual themes ranging from ‘Downtown LA’ to ‘Saville Row’ making each unique. Customers are served sophisticated drinks, by world class bartenders in an unpretentious “party style” environment. The bars are typically basement located and so competition for sites is reduced and rents lower. Serving predominantly spirits based cocktails without a wide range of wines or beers creates a concentrated drinks list allowing greater purchasing synergies and high margins.
|19 Feb 2021