New Barracuda openings

May 15, 2006: Barracuda has opened its latest two pubs in Prestwich and Macclesfield.

Celebrity psychologist Geoffrey Beattie (Big Brother, Richard & Judy) was on hand to open the £1m Barracuda Bar on Mill Street in Macclesfield as a lightly-themed South African-style pub which represents a £1 million investment. It focuses on offering high service standards, top quality food, wine and beers in addition to live big screen sports.

A Smith & Jones pub called The Fairfax also opened on the same day at the new retail and residential scheme on Fairfax Road, Prestwich. Similar to the Waterside in Sale and the Chadwick in Urmston, the Fairfax operates as a smart, contemporary Smith & Jones branded pub that represents a £900,000 investment and brings 25 full and part-time jobs to the Prestwich area.

l Barracuda was the only licensed retailer to be named “one to watch” in the recent 2006 Sunday Times PricewaterhouseCoopers Profit Track 100 supplement.

The Ten to Watch feature recognises progressive companies that have sustained their profits over the past three years. It is thought to be an indicator of future entries to both the Profit Track 100 (which ranks Britain's fastest-growing medium-sized private companies by profit growth) and Fast Track 100 (which tracks Britain’s fastest growing companies).

Chief executive of the Barracuda Group, Mark McQuater, said: “We’ve experienced strong growth since the company started in 2000 and, with the £262m re-financing last year, we are forecasting a sustained growth within the core estate and a continuation of our highly successful new pub openings programme.”

Barracuda Group was established in 2000 by a management team led by Mr McQuater and has since acquired and opened 180 pubs and bars across the UK with a view to opening 30 more each year. In 2005 Barracuda was the subject of a £262 million secondary management buyout and over the year increased its turnover by 15 per cent to £108.8m (2004: £94.4m). It now has the backing of Charterhouse Capital Partners LLP (CCP).