Vodka chain reveals IPO plans
The place where teenage dreams and too many jelly-bean-flavoured vodka shots get horribly mangled – otherwise known as Revolution Bars – is set to launch on the London Stock Exchange.
Revolution Bars Group, the culprit for our absence of productivity during our university days, owns 58 bars in towns and cities across the UK.
“Vodka Revs” or just “Revs”, as the firm is colloquially known, has been in private hands for a decade after trading on AIM until 2005. But it’s set to re-launch next month as one of the flurry of IPOs before the general election.
The company plans to more than double the number of bars in the chain to 140 and is bringing on board former Arsenal FC managing director Keith Edelman as non-executive chairman.
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.”
The company has been going from strength to strength, reporting revenues of £108.7m in the year to June 2014, up from £104.5 the year before.