It was announced today that the Mercantile Group and the Capital Bars Group, two of Dublin’s leading hospitality venue operators, have agreed to merge their businesses creating one of the country’s largest hospitality groups.
The enlarged group, which will be known as the Mercantile Group, will employ approximately 600 people and have revenues of approximately €40 million per annum. The merger is expected to complete imminently.
Before the merger, the Mercantile Group was controlled by Frank Gleeson while the Capital Bars Group was controlled by Danu Investment Partners, a Dublin based private investment firm led by Mark O’Meara, Leonard Ryan and Michael O’Rourke, and EMI-MR Investment LLC, a US based investor group.
The new Mercantile Group will be led by Frank Gleeson who will oversee the continued development and expansion of the business aided by a management team comprised of individuals from both the Mercantile Group and the Capital Bars Group.
The new group will now control twelve entertainment venues in Dublin 2. This will include Café en Seine, East Side Tavern, the Mercantile Hotel, the George, Opium, The Green Hen, Pichet, Howl at the Moon, Soder & Ko and Whelan’s.
CEO of the new group, Frank Gleeson today commented, "This is a transformational deal for our businesses and will position the Mercantile Group at the forefront of the sector in Dublin.
"We have ambitous plans to grow the business further both in Dublin and internationally and we are looking forward to a very exciting period ahead."
Source: www.businessworld.ie
