New World Trading secures £23m to fund expansion
The company, created by the founders of Living Ventures, was sold six months ago to private equity firm Graphite Capital for £50m.
NWTC operates 16 outlets nationally under five brands – The Botanist, The Oast House, Smugglers Cove, The Trading House and The Club House.
The finance package will help fund imminent new openings in Birmingham, Didsbury and Reading in the coming months, and the employment of 200 extra staff.
It is understood that the site in Birmingham will be first in a rollout of a new Canal House brand for NWTC.
Chief executive Chris Hill (pictured) said: “We are grateful to NatWest for their support and belief in our brand, and to Graphite for their continual encouragement since the investment. We look forward to pushing forward our expansion plans throughout 2017.”
Neil Parry, head of leisure for NatWest, added: “The New World Trading Company is a business we have admired from day one. We are pleased to be partnering with the management team and providing the funding for the next phase of their very successful roll-out programme.
“With 16 sites today, NWTC is now regarded as one of the leading emerging brands in the UK Hospitality market.”