MA300: Gusto and New World look to London
Bacon told delegates that the “next big push, which starts next year, is London, M25 and the Home Counties”.
Bacon said he expected to complete its “venture capital-style” deal for Gusto, its high street Italian restaurant brand, in December. “That will see it take that particular brand from the current nine units to around about 25 units.”
He also reiterated plans to take New World Trading Company from two to 15 or 20 sites over the next three years.
“Next year we are looking to do four to five units assuming we can find the sites.”
He said he liked the idea of having a number of sites in small areas, which are “easy to manage”. “The idea of having hubs, if you like, makes a great deal of sense to me.”
He also expressed his “love” for suburban outlets.
Bacon highlighted Manchester, Birmingham and Leeds as possible future locations, with a fourth pub site, the Smuggler’s Cove, set to open next month in Liverpool.
He said the division’s name was changed from New World Pub Company because that title created “barriers” to finding sites.
Bacon secured a £2.7m investment from Hill Capital Partners Food & Beverage Fund for the pub venture and is understood to be in talks on a site in London’s King’s Cross.
