Press Up appoints Emma Hynes as new chief financial officer

Hospitality group confirms it has mothballed plans for an initial public offering

 

Press Up Entertainment, the fast-growing pub, restaurant and hotels group, has appointed Emma Hynes as its new chief financial officer.

The company also confirmed it has no immediate plans for a flotation, deciding instead to fund near-term grown ambitions from its own resources.

Ms Hynes joins the group from listed food company Greencore, where she most recently held the post of group finance director. Previous to joining Greencore in 2007, Ms Hynes was a director at Deloitte where she qualified as a chartered accountant.

Press Up, founded by Paddy McKillen jnr and his business partner Matt Ryan in 2009, now owns and operates 34 businesses in the Republic, employing some 1,000 people. Its brands include Elephant & Castle, which will shortly open a new outlet in Monkstown, the Stella Cinema in Rathmines and Ranelagh, and Union Cafe, which has just opened a new branch in Sandyford.

A unit of the Rockefeller Group also recently joined up with Press Up to buy and redevelop the former Clerys department store in Dublin in a deal worth about €63 million.

Press Up last week announced plans to open a new eight-lane bowling alley at Dundrum Town Centre. Stella Bowl will anchor the new dining and leisure area at Dundrum Town Centre, with a 15,661sq ft bowling alley, cocktail bar and diner concept. It is also set to open two new restaurants and has other projects in the pipeline, including The Mayson on North Wall Quay, a new seven-storey hotel.

The Irish Times previously reported that Press Up was considering raising as much as €60 million in a flotation. However, the group has confirmed it has opted not to proceed with the initial public offering (IPO).

“Press Up has no immediate plans to proceed with an IPO at this stage and has decided to stay private and continue with its very exciting growth plans,” a spokeswoman for the group said.