The Alchemist bar and restaurant group is understood to be exploring a sale process.
Palatine, the private equity firm that has supported the 24-venue business since its inception, is reportedly working with Pura Advisory to oversee the potential divestment, according to Sky News.
According to the report, the sale aligns with Palatine’s strategy to concentrate on business-to-business investments rather than consumer-facing brands.
Founded in Manchester in 2010, The Alchemist has been supported by private equity firm Palatine since 2015.
The Alchemist has grown to 23 venues across 12 cities, including six in London, three in Manchester, and three in Scotland. The brand also made its international debut in 2023 with the opening of its first overseas site in Berlin.
In 2024, The Alchemist secured a £15 million funding package from OakNorth Bank to support the launch of 10 additional sites over the next three years.
Simon Potts, chief executive of the Alchemist, said at the time: “Despite the well-known challenges facing the hospitality sector, we take pride in our unwavering commitment of growing our brand across the UK.”
Palatine’s consumer and leisure portfolio has previously included holiday park operator Verdant Leisure and premium Italian restaurant chain Gusto. The latter was sold to Cherry Equity Partners earlier this year after entering administration.
