Business

Friday 2 December 2016

Two of Dublin's biggest bar groups to merge

Published 04/02/2016 | 14:17

Soder and Ko restaurant, South Great Georges Street, Dublin. Photo: Damien Eagers
Soder and Ko restaurant, South Great Georges Street, Dublin. Photo: Damien Eagers

The Mercantile Group and the Capital Bars Group, two of Dublin's biggest entertainment businesses have today, Thursday, announced an agreement to merge into one business.

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The merger will create one of the country's largest hospitality groups. The new group will be known as The Mercantile Group.

The group will employ around 600 people and generate €40m in revenue per year.

The Mercantile Group was controlled by Frank Gleeson, a leading operator of entertainment venues in Dublin.

Meanwhile the Capital Bars Group was controlled by Danu Investment Partners, a Dublin-based private investment firm.

Danu is headed up by Mark O'Meara, Leonard Ryan and Michael O'Rourke as well as EMI-MRR Investment, a US-based investor group.

The merged group includes 12 of the leading entertainment venues in Dublin.

Amongst the 12 venues are Soder & Ko, Whelan's, Opium, The Mercantile Hotel, and The George.

Frank Gleeson will be the chief executive of the new firm.

“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," Mr Gleeson said.

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