Revolution Bars has announced that seasoned investor Luke Johnson will assume the role of non-executive chairman, replacing Keith Edelman, who has served in the position for nearly a decade.
Luke Johnson, who holds a 20% stake in the company, is set to succeed Keith Edelman in a significant leadership change for the pub and bar operator. Known for his past success with ventures such as Pizza Express and Gail’s Bakery, Johnson brings with him a wealth of experience and a robust portfolio of prior achievements in the hospitality sector.
Rob Pitcher, CEO of Revolution Bars, praised Edelman’s leadership, acknowledging the pivotal role he has played since 2015. Pitcher stated, “Keith’s strong leadership has been instrumental in steering the Group since 2015. Through IPO, the pandemic, unsolicited offers and the most recent fundraise and Restructuring Plan.” He further expressed gratitude for Edelman’s vision and support, which have left a lasting impact on the company.
Pitcher also conveyed his enthusiasm for Johnson’s upcoming tenure, noting Johnson’s extensive experience and knowledge in the hospitality sector. “We are excited to be working with Luke who is vastly experienced in the Hospitality sector and brings a wealth of knowledge to enable the next phase of the Group’s development,” he said.
Johnson’s background includes chairing or establishing various companies and his involvement with the private equity firm Risk Capital Partners, which has stakes in diverse industries. This broad expertise is expected to drive the next stage of Revolution Bars’ growth and development.
Despite recent challenges faced by Revolution Bars, there is a glimmer of hope as the broader hospitality sector in Britain shows signs of recovery. A report released in May by CGA by NIQ and AlixPartners highlighted a decrease in the overall rate of hospitality sector closures, recording an average of four closures per day in the first quarter of 2024, down from eight per day in 2023. The market, although contracted by 2.5% year-on-year, indicates a cautious resurgence of confidence as the pressures of the cost of living begin to ease.
The appointment of Luke Johnson as non-executive chairman of Revolution Bars signals a new era for the company, as it looks to leverage his vast experience and drive future growth. Meanwhile, the hospitality sector’s recovery offers a positive backdrop for his leadership.