Food & Drink

BBQ chain investment wins Deal of the Month

Red's True Barbecue Burger, BBQ chain investment wins Deal of the Month - SantanderCB

The £9m investment secured by restaurant group Red's True Barbecue to continue its national expansion over the next two years has been named Insider's Deal of the Month. The owners of Red's plan to have 20 sites within the next three years and will open four this year after securing an additional £9m facility from Santander and a group of investors. The new investment is a majority debt arrangement with Santander, and also comprises a secondary round of equity investment from a panel of industry leaders. Co-founder James Douglas told Insider: 'We'll open four this year which will take us to ten sites. And we have plans to expand the retail range plus a few new ideas.' Co-founder Scott Munro said the latest cash boost would allow the business to open between eight and ten new restaurants over the next two years. The focus for Douglas and Munro remains on growth and there is no talk of exit just yet.


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