Luminar makes first acquisition since 2011

By John Harrington

- Last updated on GMT

Related tags: Chief financial officer, Mergers and acquisitions

Luminar chief Peter Marks said its new site is a 'stylish, high-quality' club
Luminar chief Peter Marks said its new site is a 'stylish, high-quality' club
Nightclub company Luminar has made its first acquisition since it was bought out of administration in 2011.

It has bought Evoke in Chelmsford, Essex, for an undisclosed sum. The 1,200-capacity venue, which first opened in July 2012, features the Ice Bar, a large main dance floor, the Japanese-inspired Koudo Lounge bar and private VIP booths. The venue was bought from Premier Leisure Group.

Luminar chief executive Peter Marks said: “It’s a stylish, high-quality well-invested club, which fits perfectly with our portfolio.

“As part of our strategy, we always said we would look at tactical opportunities to acquire new sites that fit our portfolio and deliver a good return on investment."

'Tactical' acquisitions

Talking to the Publican's Morning Advertise​r's sister title M&C Report​ in July, chief financial officer Russell Margerrison said Luminar is “always prepared” to look at “tactical” acquisitions, although he stressed that the company’s priority is to invest in the estate.

“If the right opportunity comes up at the right time we would be interested. We’re more opportunistic at the moment rather than [having] a policy that says we need to add x number of units in 12 months.”

Related topics: MA Leaders Club

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