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Fri 14th Jun 2019 - Shoreditch Bar Group buys remainder of Novus late-night estate |
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Shoreditch Bar Group buys remainder of Novus late-night estate: Shoreditch Bar Group has bought the remainder of London bar and restaurant operator Novus’ late-night business for an undisclosed sum. The deal incorporates five sites – Tiger Tiger London, Tiger Tiger Cardiff, Piccadilly Institute, Ruby Blue and Zoo Bar as well as the Novus head office. Novus chief executive Sharon Badelek said: “We are thrilled to be selling this incredible estate to such a vibrant and passionate company. It was important to me these venues and, more importantly, our teams ended up in safe hands with an exciting future, which I believe we have found in Shoreditch Bar Group. We wish them every success with the future of the estate.” Shoreditch Bar Group operations director Mark McEvoy added: “This estate of prime West End locations and, of course, Cardiff is a welcome addition and complements our estate perfectly. The team and I look forward to meeting and working with the teams to continue to take these venues forward. It’s going to be a lot of fun!” Novus launched the Tiger Tiger brand in Haymarket, London, in December 1998. The company has been gradually selling its late-night business. In November, Novus sold three Tiger Tiger venues, in Newcastle, Manchester and Portsmouth, which The Deltic Group is converting into a Garden of Eden-inspired concept. Meanwhile, in January it sold six sites – four branded as Balls Brothers and two as Tank & Paddle – to Stonegate Pub Company, which also bought 15 bars from Novus in 2018. Shoreditch Bar Group operates circa ten sites. The deal leaves Novus with six Balls Brothers sites, including The Sterling, and a Tank & Paddle venue in Heddon Street, Mayfair. Novus closed the Late-Night London website six months ago.
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