Drake & Morgan buys Corney and Barrow Bars

London-based bar and restaurant group Drake & Morgan has bought Corney & Barrow’s wine bar business in an effort to strengthen its presence in London.

The wine merchant launched Corney & Barrow Bars in 1983 as a City-based collection of premium wine bars and currently operates 11 bars – ten under the C&B name and one as its flagship bar and restaurant, Devonshire Terrace.

Corney & Barrow will continue to operate independently under the direction of chairman Percy Weatherall and managing director Adam Brett-Smith.
“We are delighted that Drake & Morgan has acquired our wine bar business and we look forward to a continued and productive relationship as we work with the group to build its wine offering,” said Percy Weatherall, chairman of Corney & Barrow.

Drake & Morgan said the acquisition was part of its strategy to build a “significant, multi-brand bar and restaurant portfolio in London and regionally”.
Over the next 12 months, the group is expected to add a further five sites to its current nine-strong group with openings planned at Heathrow T4, Spinningfields and One St Peters Square, both in Manchester, Edinburgh and London’s West India Quay.

“The acquisition strengthens our presence in the City and we look forward to working more closely with the Corney & Barrow Wine Merchant business, introducing their fantastic portfolio of wines across the Drake & Morgan estate,” added Jillian Maclean, MD of Drake & Morgan.

With the acquisition of Corney & Barrow the portfolio will have increased to at least 25 sites by end 2017.The purchase was backed by private equity firm Bowmark Capital.