Investors acquire Alma De Cuba

Date: 19 June 2007

ONE of Liverpool’s trendiest restaurants and bars has been bought by a city based investment business for an undisclosed sum.

Alma de Cuba, a Cuban Latino themed restaurant bar on Seel Street, has been acquired by TGI Ltd, which plans to expand the business and roll out the brand across the North West.

TGI Ltd acquired celebrity hang-out Alma De Cuba from the Korova Corporation, which owns famous Liverpool nightspots including Korova in the city centre and Alma de Santiago and Negresco in Aigburth.

Chris Wainwright, TGI managing director, headed the acquisition team, which included chairman, Stuart Ross, a former director at Iceland frozen foods. They have been joined at TGI by Rob Preston, the former operations director at the city’s famous Living Room bar and restaurant.

He said: “TGI was formed specifically to acquire Alma de Cuba and we have been working for some time to complete the deal. In the short-term we will re-brand Alma de Cuba before its re-launch in October, while our long-term plans are to expand the ‘ Alma de’ brand and open new venues right across the North West.”

Alma de Cuba was opened in the former St Peter’s Catholic Church in September 2005 and it has retained the listed stained glass windows and marble plaques.

The award-winning nightspot is now a popular haunt for the city’s rich and famous and boasts many footballers and TV stars as regular guests.

North West-based Chartered Accountants and Business Advisors Mitchell Charlesworth acted for TGI on the deal and advised on financial matters, taxation issues and also the company’s share structure.

Alex Chapman, from Liverpool law firm Bermans, provided legal advice and HBOS helped fund the acquisition.

Clive Plummer, Mitchell Charlesworth’s chairman, added: “TGI is an ambitious business and I am sure that with the experience and expertise of the management team they will drive the business forward to achieve their goal of launching the ‘ Alma de’ brand right across the region.”

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