Norman takes full control of GGIT pubs and restaurants

Scots entrepreneur Oli Norman has acquired full control of a Glasgow-based bar and restaurant group after buying out his business partner in a deal that values the firm at more than £15 million.

Oli Norman will assume sole ownership of seven Glasgow venues, including Sloans. Picture: PFM Pictures

Stephen White has sold his 50 per cent stake in Glasgow’s Great Institutions and Taverns (GGIT) to Norman, who assumes sole ownership of some of the city’s best known venues, including Sloans, Brel, Maggie May’s and The Griffin.

The deal, which values the group’s portfolio in excess of £15m, also covers recent additions to the portfolio, such as Epicures of Hyndland, the nearby Nick’s Italian Kitchen and Bar and the newly-launched Jacques in Finnieston, which recently underwent a major refurbishment.

GGIT has grown rapidly under the joint ownership of Norman and White, who launched their partnership in 2010, with Sloans. It now employs more than 200 staff across seven establishments in the city.

White said he was departing the business to focus on other ventures. He said: “Oli and I have complemented each other very well and the growth of the business is something we’re both extremely proud of.

“We’ve achieved strong, sustained growth in a very competitive market and I felt that it was the right time to sell my share of the business to Oli and move on to my next venture.

“I’ve got some very interesting opportunities which I’m keen to take forward in the coming months.

“Oli will undoubtedly continue the group’s expansion and I’m excited to see what he does next.”

He said that the group was in a good position to take advantage of a strong market in Glasgow, adding: “The business is in extremely good shape, with a very talented and highly motivated team and is well-placed to capitalise on Glasgow’s burgeoning bar and restaurant scene.”

White, who owns several other Glasgow venues, such as Blackfriars and Munro’s, is also founder of the Scottish Gin Society.

Norman, who founded the exclusive deals and events company Itison, said: “My partnership with Stephen has been incredibly successful and we’ve had a great journey together.

“I’m excited about the future, particularly following the recent acquisition of Nick’s, Epicures and Jacques, with major plans in store for them.”

Norman’s deals firm was behind Itison Drive In Movies, which hosted more than 180,000 people at screenings of films in matching locations, such as the Harry Potter series shown against the mountain backdrop of Glencoe, and Jaws screened by the sea at Troon.

Other recent ventures have included the GlasGLOW sound and light show at the city’s Botanic Gardens which took place over Halloween.