Pint Shop seeking £2m to go national
Pint Shop, the award-winning Cambridge restaurant and bar focusing on British meat and beer, is seeking £2 million additional funding to open a second site in London as part of long-term plans to take the brand national across the UK.
It is seeking the cash from leading figures in the hospitality industry to trigger a growth strategy that will see a Pint Shop in all major south of England cities plus and one northern location within the next five years.
Richard Holmes and Benny Peverelli, co-owners of Pint Shop, originally approached their existing investors, raising over £600,000 in just one day.
They are now looking for new money to fund a flagship London site, due to open this year, as well as a second site in another UK city.
Holmes said: “Our growth plans for 2015 are ambitious which is why it is crucial that we have the right funding in place. We’re lucky to have already received investment from a number of renowned industry figures, including Steve Wilkins, founder of Little Gems Country Dining, and we value the advice and support they have provided us with.
“With this in mind, we’ve decided to approach the hospitality sector directly again for investment, rather than turn to VCs or crowdfunding.
“We think we offer an exciting opportunity for those looking to support a growing bar and restaurant business that offers something different. We enjoyed superb sales and critical acclaim last year and fully intend to build on this in 2015.”
Based on Peas Hill, Cambridge, the Pint Shop specialises in meat, bread and beer and took its inspiration from the beer houses of the 1830s. As well as specially sourced beers from smaller breweries, Pint Shop offers 60 gin options, including a pea based gin handmade exclusively for the site (as it is based on Peas Hill).
Cambridge entrepreneur David Cleevely and his family literally took a steak – and then a stake – in the business in the crucial early days, challenging the owners to prove their worth with a cook-off for the family. It was a challenge both parties devoured to mutual satisfaction.
• PHOTOGRAPH SHOWS: Pint Shop co-founders Benny Peverelli (left) and Richard Holmes