Viva Brazil, an award-winning Liverpool-based Brazilian restaurant chain, is to further expand its portfolio of restaurants with the opening of a new site in Birmingham in mid-May. The expansion follows a £900,000 Growth Capital funding deal with Santander Corporate & Commercial.
Established in 2010, Viva Brazil has established four successful restaurants in Liverpool, Glasgow, Cardiff and Newcastle over the past five years. Using Brazilian barbeque methods and with Passadors carving the meat at each table, the ‘Churrascaria’ ethos of traditional Brazilian steakhouses is prominent throughout the restaurants and has been a driving force behind its success.
The £900,000 Growth Capital Loan from Santander Corporate & Commercial will assist with the fit-out and general trading of the new Birmingham restaurant. The restaurant chain also has plans for future expansion in other major UK cities. The Birmingham outlet is due to open on 19 May 2016.
Santander Corporate & Commercial’s Growth Capital loans are targeted at businesses with annual turnovers of up to £50 million which have a demonstrated history of high year-on-year growth in turnover, profit or employment. The facility is part of the bank’s Breakthrough product suite, which is aimed at fast-growth, ambitious businesses.
Andy Aldrich, Owner and Managing Director, Viva Brazil Ltd, said: “The Viva Brazil brand continues to move from strength to strength. This will be our flagship restaurant in the heart of a fantastic city, perfect for both leisure and business users alike. Viva Birmingham marks an incredible milestone for our business, taking our restaurants up to five excellent locations with room for further expansion. We can really look forward now thanks to the Santander business growth loan which has helped us realise our full potential.”
Phillip Roscoe, Relationship Director, Santander Corporate & Commercial, added: “Viva Brazil’s rapid growth is a testament to the success and popularity of its unique style. Santander is thrilled to be backing the management team on their latest endeavour as they build on their portfolio in Birmingham and we fully support them as they look forward to further expansion.”
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