Various Eateries raises £25m through share placing

Hugh Osmond’s Various Eateries business has raised £25m through a share placing and began trading this morning on the AIM market of the London Stock Exchange.

The net proceeds will principally be used to advance the group's plans to roll out its Coppa Club and Tavolino brands and to fund future activities, possibly including acquisitions.

Osmond, founder of Various Eateries, said: “We will take new sites, build new venues, employ new people and create new places for people to go, on the high street and in local communities. Our industry creates entry-level jobs for people just out of school or university: the only qualifications required are to be able to work hard and to be a nice person.

“I am sad to see many high streets devastated by the turmoil in hospitality and retail. But we will take those empty sites and turn them into busy all-day community hubs suited for how people in the post-Covid 2020s will want to live."