Brazilian- themed bar and restaurant group goes for growth
The owner of Boteco do Brasi l , the Brazilian- themed bar and restaurant business, has bought the firm’s long- standing Glasgow premises thanks to a new finance package.
HSBC provided an £ 880,000 funding arrangement to enable Luigi Aseni to purchase the property, which had pre - viously been rented since 2010. The acquisition is said to have improvedBo te co’ s balance sheetand increased its net worth while providing Aseni with the flexibility to upgrade and expand the business in the future.
Boteco, which translates as bar in Portuguese, also has a base in Edinburgh while Ase ni owns a third venue, Mango, also in Glasgow. The businesses employs around 60 staff across the three venues, including a full-time marketing manager – a direct result of the Boteco Glasgow site purchase.
Aseni, who hails from Italy, said: “Purchasing the Glasgow venue, which we’d been renting for the past seven years, has always been a long- term goal and cements our place in the Glasgow food and drink landscape. We see an exciting future ahead.”
Thebusiness is now considering further expansion, including the potential to open a third Boteco do Brasil, in the north of England.
Finance was allocated from HSB C’ snat ion al £10 billion S ME fund to support UK SMES, with £500 mn specifically designated to support businesses in Scotland.