Press Up group unveils new name
The group has opened a new Asian restaurant, Kaldero, in the premises previously used by Press Up’s Wagamama on St Stephen’s Green
The Press Up hospitality group has been renamed as Eclective, the company announced. The new name is a play on the word “eclectic”, which means “coming from a broad range of sources”, emphasising how the company operates a variety of restaurants, bars and a cinema. It employs 850 people across 24 venues in Dublin. Last year the group was taken over by Cheyne Capital, a London-based finance firm, in a debt-for-equity swap. Press Up was originally formed in 2009 by Paddy McKillen Jnr and Matt Ryan.
Under the terms of the deal, McKillen retained a seat on the board and kept a stake of 10pc with Cheyne Capital taking the rest. Ryan is no longer involved with the group.
Wagamama has become Kaldero
Since then, the group has opened a new Asian restaurant, Kaldero, in the premises previously used by Press Up’s Wagamama on St Stephen’s Green. Cheyne Capital is thought to be looking for new premises for the group, and was linked with a possible takeover of locations previously operated by chef Dylan McGrath at Rustic Stone and Brasserie Sixty6, although this did not materialise.
After selling all its hotels, the group now has seven restaurants, including Angelina’s and Doolally, plus Captain America’s in Blanchardstown; six branches of Elephant & Castle, including in Temple Bar and Rathmines; and six branches of Wowburger.
It also has six bars, including Peruke & Periwig, and still operates the Stella cinema in Rathmines.
According to Dave Mongan, chief operations officer at Eclective, this change underlines the team’s commitment to build on what has been achieved to date, creating exciting and vibrant social experiences across the city. “As we develop the business over the coming years, we will strive to elevate the customer experience,” he said.
