Mercantile Group and Capital Bars Agree Merger
Two of Dublin's largest hospitality groups, the Mercantile Group and Capital Bars, have shook hands on a deal that will see the two merge into one business.
According to the Irish Independent, the new entity will trade under the Mercantile Group name and create "one of the country's largest hospitality groups in the country", employing some 600 people and generating €40m in revenue per year.
Up to now the Mercantile Group was run by Frank Gleeson, while Capital Bars Group was controlled by private investment firm Danu Investment.
Twelve hospitality businesses will be included in the merged group.
Up to now Capital Bars portfolio has comprised of the George, Cafe en Seine, Howl at the Moon the Soder + K, while the Mercantile Group's portfolio includes the likes of Whelans, the Mercantile Hotel, Opium and Pichet restaurant.
"This is a transformational deal for our businesses and will position the Mercantile Group at the forefront of the sector in Dublin. We have ambitious plans to grow the business further both in Dublin and internationally and we are looking forward to a very exciting period ahead," Gleeson said.