A South West bar and restaurant group that is inspired by the Devon and Cornwall coastline has secured a £1.1m equity investment.
Deckhouse will use the money from the British Business Bank’s South West Investment Fund to open more sites, it said.
The independent business was founded in 2022 by managing director James Spragg, previously chief executive of the Big Table Group, and chaired by Mark McQuater, former chief executive of Revolution and Barracuda.
The company originated in Gloucestershire and Somerset, and prepares food fresh on-site, serving from brunch to dinner. It also covers celebrations and events, including wine tasting and music evenings. It is now looking to roll-out more sites.
Luke Matthews, partner at fund managers Maven, said: “We’re delighted to back Mark and James as they embark on their expansion. They are a hugely experienced senior team, and there is a window of opportunity now for well-priced high street bars and restaurants. Deckhouse is well positioned to capitalise on these opportunities, and we look forward to working with the business as it scales.”
Mr Spragg said: “We are thrilled to have Maven’s support and funding through the South West Investment Fund as we set out to create something truly unique, fresh, and exciting for the high street. Deckhouse is a destination that thrives across all dayparts and brings a new energy to the local scene.”
Lizzy Upton, senior manager at British Business Bank said Deckhouse had “great potential” to thrive in the hospitality market. She added: “We’re pleased to support Deckhouse’s growth as it expands its presence in the region.”
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