Following the successful refinancing of its equity and debt structure earlier this summer, which massively reduced debt and brought in new equity, Barracuda Group has embarked on an extensive investment programme.  The company will complete 22 major projects between August and December 2009 in readiness for the key festive season.
 
Two new-look Varsity trial refurbishments are included, plus the roll out of the “new Smith & Jones” format, which has been highly successful in the trial sites it was put into earlier this year.
 
A recent example of the extensive refurbishment of Smith & Jones prime pub assets is the stunning Grade II listed pub, .  The new design includes contemporary furniture, flooring, soft furnishings and redesigned outside spaces, in keeping with the high quality style of the pub.
 
This represents the start of a multi-million pound investment programme that will continue well into 2010.
 
Mark McQuater, Barracuda’s Chief Executive said, “The successful refinancing arrangement has allowed us to deploy significant cash flow into our existing estate ensuring our Smith & Jones and Varsity pubs remain market leaders.  Pubs are either receiving our upgraded brand investment or are changing brand where a shift in demographics has created new opportunities.”
 
Barracuda has also recently launched a dedicated brand website www.smithandjonespubs.com that offers customers discounts and deals on food and drink across its 115-strong nationwide estate.