The owners of Glasgow’s busy Viva Ristorante have acquired the city’s Italian Kitchen in a £1 million deal supported by Clydesdale Bank.
Richard Laciok and Marco Mozzachiodi took over the Italian Kitchen, in Glasgow’s vibrant Merchant City quarter, last month. The pair received a substantial funding package from Clydesdale Bank’s Regional Business and Private Banking Centre in Glasgow to assist the purchase, with the deal delivered by relationship manager Peter Burton.
Richard and Marco have been Clydesdale Bank customers since opening Viva Ristorante, a 120-cover Italian restaurant located in the heart of Glasgow on Bothwell Street, over 10 years ago. The family-run restaurant has been a critical and commercial success, regularly featuring in the Scottish Italian Awards.
The pair acquired the Italian Kitchen, which has 90 covers, after its previous owner sold up to open a new business. Since taking ownership in June, Richard and Marco have embarked on some renovation work and are planning a menu change. All 22 staff have been retained.
Richard said: “We’re extremely pleased to have become the new owners of The Italian Kitchen. We’ve got some great chefs and a very experienced front of house team, and the quality of the food is fantastic; everything is fresh and homemade, from the bread to all the desserts and the ice cream. Our speciality is freshly made authentic pizzas stonebaked in our feature wood stone oven.
“When the restaurant came onto the market we had to move quickly to secure the sale. Fortunately, Clydesdale Bank recognised it as a good opportunity to expand and supported our growth ambitions. Its knowledgeable team also acted quickly to get the deal done and ensure it was completed on time.”
Robert Gibson, Head of Clydesdale Bank’s Regional Business and Private Banking Centre in Glasgow, said: “Richard and Marco have built Viva Ristorante into a highly successful business with a reputation for good value, quality food.
“We have no doubts that they will make a similar success of The Italian Kitchen and look forward to working in partnership with them as they continue to develop the business.
“Our specialist knowledge of and focus on different sectors helps to bring a challenge to the market, giving small and medium sized business the speed and flexibility they require to fulfil their growth ambitions.”
Clydesdale and Yorkshire Banks has strengthened its support for UK SMEs by becoming the first to partner with the British Business Bank under its ENABLE Guarantees scheme.
Up to £125m of new lending by Clydesdale and Yorkshire Banks, guaranteed by the British Business Bank, will help more small businesses achieve their growth ambitions.