Dublin-based live venue groups Mercantile and Capital Bar groups to mergeThursday 04 February 2016 22.44
The Dublin-based Mercantile and Capital Bars groups have announced they are to merge into one hospitality group.
The enlarged group will be known as the Mercantile Group and will employ around 600 people and have annual revenues of around €40m. No job losses are expected as a result of the merger.
The new group will control 12 leading entertainment venues across Dublin including Whelan’s, Café en Seine, The George, The Mercantile Hotel, Howl at the Moon, and Opium.
The group will open a new venue located in Powerscourt Town House on South William Street later this year, which is expected to create up to 70 jobs.
The merger is expected to be completed in the short term.
Previously, the Mercantile Group was controlled by Frank Gleeson, who has been involved in the operation of entertainment venues in Dublin for 20 years.
Capital Bars Group was controlled by Danu Investment Partners, a Dublin-based private investment firm, as well as EMI-MR Investment LLC - a US-based investor group.
Mr Gleeson will be CEO of the new entity and will oversee the development and expansion of the business.
A significant capital expenditure programme is planned for the group’s venues.
Mr Gleeson described the merger as “a transformational deal for our businesses and will position the Mercantile Group at the forefront of the sector in Dublin”.
12 Dublin entertainment venues controlled by new Mercantile Group: