Pasture Restaurant Group has confirmed plans to open its first international venue in Barcelona, Spain, backed by a new £4.5m refinancing package from Barclays Bank. The funding will also support further investment in its existing steak restaurants across Cardiff, Bristol, and Birmingham.
Funding for Growth
The group, which operates five steak restaurants, secured the refinancing package to fuel its next stage of growth. The £4.5m line from Barclays will enable the opening of the Barcelona restaurant and enhancements to current venues.
Founded in Bristol in 2018 by chef-owner Sam Elliott, Pasture opened its first Cardiff restaurant in 2020, which was recently recognized among the world's top 50 steak restaurants. The group has diversified its offerings to include the Nightshade speakeasy bar and Parallel restaurant in Cardiff.
Investments in Production
Pasture has also invested in its own farm and vineyard, which supplies wine and produce for its restaurants, along with a butcher's shop and an online store. The new Barcelona restaurant is expected to open early next year.
Sam Elliott, founder of Pasture Restaurant Group, said: “When I founded Pasture Restaurant Group, the goal was simple: to combine great cooking with outstanding local produce. Eight years on, it’s incredibly rewarding to see customers continue to connect with that vision, and we’re excited to be entering the next phase of growth with plans to open our first international restaurant in Barcelona. Barclays has been a supportive partner throughout our journey, always understanding our ambitions and financial requirements. Everyone at Pasture is looking forward to what comes next.”
Banking Support
Greer Hooper, head of South Wales corporate banking at Barclays, said: “Barclays are delighted to strengthen our ongoing relationship with Pasture Restaurant Group, a dynamic and highly regarded hospitality business with a strong regional presence. In less than a decade, the group has established itself across key locations including Cardiff, Bristol and Birmingham, building a reputation for quality and consistency. Their continued growth is a clear demonstration of their proposition and their ability to succeed in a highly competitive and evolving sector.”
