UK-based private equity Breal Capital has purchased the London-based wine bar group Vinoteca out of administration, according to a report by the Evening Standard.
Vinoteca, which operates five bars in the British capital city, was sold by administrators at Interpath to Breal Capital.
Its bars are located in Borough Yards, Chiswick, Farringdon, Kings Cross and the City of London.
As part of the deal, the wine bar business and certain assets were sold to an entity owned by Breal Capital.
The acquisition by the private equity is said to have saved jobs of 150 people working at Vinoteca, which was on the brink of a collapse due to train strikes and high energy costs.
The publication quoted a Breal Capital spokesperson as saying: “Vinoteca is a premier destination for wine enthusiasts, offering an exquisite collection of fine wines from around the world, complemented by an exceptional culinary experience.
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“Beyond its outstanding collection of wines and delectable cuisine, Vinoteca distinguished itself through its commitment to education.
“The establishment will continue to host a series of events, workshops and tastings led by industry experts, allowing guests to deepen their appreciation and knowledge of the world of wine. Each bottle of wine has a story to tell. We are delighted that Vinoteca can continue to share these stories.”
The Caterer reported that the private equity firm acquired Yorkshire’s Black Sheep Brewery, including its four pubs, out of administration in a rescue deal earlier this year.