Macfarlanes advises Heartwood Collection on financing for growth of its pubs and restaurants business
Macfarlanes previously advised Alchemy on its acquisition of Heartwood Collection in February 2022. The Heartwood Collection group currently has 14 brasserie restaurants and 20 pubs with ambition to, in particular, grow the pubs business ‘Heartwood Inns’ with the acquisition of freehold ‘pubs with rooms’. The new facilities will assist the business with those growth plans.
The transaction represents one of the largest whole loan transactions underwritten by OakNorth Bank plc, which is a longstanding lender of record to the business. The committed and uncommitted facilities provided by OakNorth on the transaction represent an uplift of £50m from the facilities provided by OakNorth to Heartwood Collection immediately prior to completion of the transaction.