The Revel Collective appoints new CFO
Fowler’s appointment comes after Danielle Davies announced her departure from the role
The Revel Collective, an operator of premium bars and gastro pubs, trading mainly under the Revolution, Revolución de Cuba and Peach Pubs brands, has appointed Matthew Fowler as chief financial officer, effective 16 June.
Fowler is an experienced public markets chief financial officer, having most recently held the same position at MusicMagpie until April this year, and prior to that Genedrive plc.
Fowler’s appointment comes after Danielle Davies announced her departure from the role. She, however, will remain in the business in the short term to effect an orderly transition of her responsibilities.
In March the group reported that for the 26-week period to 28 December 2024, its sales were 22% lower at £64.2m than in the same period last year, due to “challenging” conditions in bar brands which made recovery “slower than expected”.
The fall in sales reflects a “significant” reduction of venues – from 88 to 62 – across the 12-month period, together with the delay to, and ongoing distraction of, The Revel Collective’s restructuring plan impacting on the bars for the first half of FY25.
Adjusted EBITDA profits were slightly lower in the first half of FY25 at £3.1m compared with £3.2m in the same period last year, while softer sales and lower operating costs meant that APM3 adjusted EBITDA is in line with the previous year.
In the second half of FY24, the group closed a number of sites as part of its restructuring plan with eight closed at the start of January 2024 and the rest later in the second half – meaning that FY24 ended with 77 venues.
A further 15 bars closed in the first half of FY25, being 14 Revolution bars and one Playhouse, as a result of the successful sanctioning of the restructuring plan.
The Revel Collective maintains that it now has a “well-balanced” portfolio with the main brands, with plans to expand Peach Pubs and Founders and Co “when the opportunity arises”.
Rob Pitcher, chief executive officer of the group, said: “I’m delighted to welcome Matthew to the board. His wealth of experience will be invaluable in helping to steer the group through the challenging times currently faced by the hospitality sector and support the business to realise its true value.”
Matthew Fowler, incoming chief financial officer, added: “I am excited to join The Revel Collective at this important moment in its journey. I look forward to working with Rob and the wider team to help deliver on the company’s strategic plans.”
