Kornicis Group, the bar and restaurant chain backed by NBGI private equity, has acquired the Smollensky’s Bar & Grill brand together with two prime sites at Canary Wharf and the Strand.

Kornicis Group, the bar and restaurant chain backed by NBGI private equity, has acquired the Smollensky’s Bar & Grill brand together with two prime sites at Canary Wharf and the Strand. The terms of the transaction have not been disclosed. 

The deal, which will bring the group’s portfolio of bars and restaurants up to 19, marks Kornicis’ first acquisition since it was established through the purchase of selected assets of the Food & Drink Group out of administration in August this year.

Kornicis provides a strong platform for NBGI to make further selective acquisitions in this sector, the private equity house said.

The group, steered by former Chorion CEO Nick Tamblyn, aims to improve Smollensky’s through better products, focused marketing campaigns, tighter cost controls and an upgraded service.

Nick Tamblyn of Kornicis said: “We are extremely excited about this acquisition, Smollensky’s is a well-known brand and the two sites are in prime locations benefiting from high footfall levels. We will improve the sites and are delighted to incorporate them into the Kornicis Group portfolio.”