Venture capital firm Alchemy Partners has completed its takeover of Revolution vodka bar owner Inventive Leisure. The £42.45m takeover was declared unconditional today.

Inventive has about 40 bars, the majority trading as Revolution.

It is expected that Alchemy will combine the business with its Tattershall Castle Group of managed pubs and bars, which was created last year after the purchase of 178 sites from Spirit Group.

Tattershall Castle Group is currently headed by chief executive Peter Brook, previously boss of the Innspired pub company.

Inventive non-executive directors John Green and Nicholas Stagg have stepped down from their roles following the completion of the deal.

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