The new arrangement, which follows NEOS’s acquisition of 20 Revolution and Revolución de Cuba sites out of administration from The Revel Collective back in January, will provide the group with additional funding to support its rebranding of those sites, as well as invest across its growing estate and pursue future acquisition opportunities.
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Return to profit
It comes as NEOS reports a return to profit and strengthened EBITDA both across the wider group and in venue in its FY25 results.
In the year to 31 December 2025, NEOS saw turnover increase 17%, rising from £39.9m to £46.7m.
The group notes that its previous year results are not directly comparable as they cover an 11-month period from when the company was incorporated on 17 January 2024 to 31 December 2024.
Venue EBITDA for FY25 was £13.5m, up from £4.2m in the 2024 period, while group EBITDA from continuing operations was £9.5m (2024: £2.7m).
The group reported a profit after taxation of £31,253, turning around a loss of £4.1m in 2024.
Investments and estate growth
NEOS invested £10.9m in rebrands and acquisitions during 2025, completing four rebrands and acquiring two new venues. The group ended the year operating 19 venues.
It has subsequently grown its estate to 40 sites now trading, following the Revolution and Revolución de Cuba acquisitions.
Since January, NEOS has focused on rebranding and investing in selected venues across its enlarged estate, relaunching them under either its Bonnie Rogues or Barbara’s Bier Haus brands.
Three venues have already been transformed in 2026, with launches across major UK cities including Bristol, Birmingham and Southampton.
A further three transformations are planned across Leeds and Newcastle before the end of the year, with the group’s first ever London dual-concept venue, combining both Barbara’s and Bonnie Rogues, set to launch in 2027 in the former Tiger Tiger building on Haymarket.
The group says its expanded relationship with HSBC UK gives it greater flexibility as it continues to develop its portfolio, while retaining the ability to pursue further growth opportunities as they arise.
“We have worked with HSBC UK over the last two and a half years, as the business has grown, so has our relationship,” says Russell Quelch, CEO at NEOS.
“HSBC UK is a trusted partner and we are pleased to expand our relationship with the new £10 million revolving credit facility.
“Doubling our estate to 40 venues has created opportunities to develop our brands across many locations and the new facility supports our continued growth across the UK.”
- This story was originally published on the Morning Advertiser’s sister site, MCA, here.
