By Angela Green, Content Executive: STACK’s food, drink, and music menu reports record profits.
The company behind the food, drink, and music concept STACK, has reported record profits, providing confidence to continue its expansion plans.
Danieli Group reported sales of £14.6 million and an EBITDA of £4.67 million combined for their Newcastle and Sunderland venues for the year April 2021 – April 2022.
The results see the company, which recently announced planned sites in Durham, Bishop Auckland, Carlisle, Lincoln along with a three-year pop-up scheme in Middlesbrough, progressing with ambitious, national growth plans.
The two North East STACKs were purpose-built container villages, with the concept now expanding into repurposing existing buildings at some locations which still retain the STACK aesthetic.
Neill Winch, CEO, Danieli Group, is not surprised by these results and believes the brand concept can perform at this level across the UK.
“We have created STACK as a space where people from all walks of life can come to have a good time, eat great food and enjoy live music,” he said.
“The essence of STACK is in bringing people together over the universally shared pleasures of food, drink and music and providing a vibrant festival style atmosphere week in and week out.
“The sales figures demonstrate how popular both venues have been in the North East and how they have been embraced by the local community.”
He added: “We are more than a bar or eatery or music venue, we provide a space for people of all ages to meet up and share experiences, which keeps them coming back time and time again.”
The success to date has led to the company launching its first scheme outside of its native North East in Lincoln, which is currently under construction and is due to open in September 2023.
Last week the group announced that planning permission had been granted for the temporary site in Middlesbrough, which will now open this June.
Work is also underway on the new flagship site in Newcastle city centre, which is scheduled to launch in June 2024.
The planned sites at Carlisle, Durham and Bishop Auckland are all currently going through the planning and licensing process which is due to conclude by the end of April. If granted work will begin on these sites in the very near future.
“This is a very exciting time for the Danieli Group and the STACK brand as we hope to expand to 11 sites within the next four to five years,” said Neill.
“We have a number of other sites progressing through legals and a pipeline that will ultimately see STACK become a household name.”
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