Dirty Martini’s assets acquired by Nightcap PLC
DC Bars Limited, the operator of the ‘Dirty Martini’ chain of cocktail bars and Tuttons Brasserie Limited, has sold certain assets of Dirty Martini to Nightcap PLC for a consideration of up to US$6.4 million (US$5.7 million in cash on completion and a further US$0.7 million payable based on certain conditions being met). The acquisition is being undertaken as part of a pre-pack administration process by the companies.
Dirty Martini are stylish cocktail bars with venues across London, Birmingham, Cardiff, Leeds and Manchester.
Nightcap is a company engaged in the operation of bars and drinks-led hospitality concepts in the UK.
Oaklins Cavendish, based in the UK, advised on the asset purchase agreement to acquire certain of the assets of DC Bars Limited, the operator of the ‘Dirty Martini’ chain of cocktail bars, and Tuttons Brasserie Limited.
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