Drake & Morgan acquires Corney & Barrow

UK bar group Drake & Morgan, backed by private equity firm Bowmark Capital, has acquired City-based Corney & Barrow Bars Limited for an undisclosed sum.

Corney & Barrow launched in 1983 and today operates 11 bars – 10 under the C&B name and desintation bar and restaurant, Devonshire Terrace.

The Corney & Barrow wine merchant business will continue to operate independently post-acquisition, led by chairman Percy Weatherall and managing director, Adam Brett-Smith.

“The acquisition strengthens our presence in the City and we look forward to working more closely with the Corney & Barrow Wine Merchant business, introducing their fantastic portfolio of wines across the Drake & Morgan estate,” said Jillian Maclean, Drake & Morgan managing director.

Corney & Barrow’s Weatherall added: “We are delighted that Drake & Morgan has acquired our wine bar business and we look forward to a continued and productive relationship as we work with the group to build its wine offering.”

The Corney & Barrow acquisition forms part of Drake & Morgan’s strategy to build a significant, multi-brand bar and restaurant portfolio in London and regionally, the company said in a statement.

Drake & Morgan is set to add another five sites to the nine-strong group in the next 12 months, incuding a new bar opening at Heathrow T4. With the acquisition of Corney & Barrow, the portfolio will increase to at least 2015 sites by the end of 2017.