North East leisure operator Stack has received investment from a London private equity house to help accelerate plans to take its popular drinking and dining destinations across the UK.

The firm’s original shipping container destination in Newcastle dominated the former Odeon cinema site until it closed in May 2022, having welcomed three million visitors and served up a huge boost to the city’s economy over four years. Since then, the firm has launched a Stack site in Seaburn, Sunderland, with several more in the pipeline.

Now the firm – part of Danieli Group, which also operates a security business and a number of other venues including Yolo Townhouse, Yolo Ponteland and The Muddler – has secured an indisclosed investment from King Park Capital (KPC). The investment comes as a series of new sites gain momentum, with Lincoln already in the construction phase alongside the St James’ Stack – a joint venture with Newcastle United that will establish a Fan Zone by the stadium.

Read more: People on the move: key North East appointments and promotions

Read more: Historic Pendower Hall set to be sold to new owners

Stack is known for its fusion of bars, live entertainment and leisure activities, alongside street food and local independent vendors, having been launched by Neill Winch in moves to create a cultural and community hub.

Next year will see Stack launch a new flagship site in Newcastle city centre at the regenerated Worswick Chambers in 2025, featuring nine bars and 10 street food units. Meanwhile, Stack Middlesbrough is scheduled to open in spring 2024.

Mr Winch said Stack’s expansion strategy will consist of container parks in Carlisle, Manchester and Sheffield together with several development projects aimed at repurposing vacant retail spaces, breathing new life into city centres in locations such as Lincoln, Durham, Bishop Auckland, Whitley Bay and Northampton.

KPC’s investment will be used to accelerate Stack’s growth and realise the team’s vision of delivering the transformative projects.

Jamie Tillman, partner at KPC said: ”We are excited to be partnering with Stack and are committed to supporting Neill and his exceptional team in its ambitious expansion. We believe Stack’s unique leisure hubs will become landmarks in towns and cities throughout the UK.”

Neill Winch, managing director of Stack, added: “Teaming up with Kings Park Capital, a specialist investor in the leisure sector, is instrumental for our growth. This investment will enable our extensive pipeline of new Stack venues to become a reality.”

Kings Park Capital also made investments into fellow North East firm Inn Collection Group in 2022. The firm and the Harris Family Trusts sealed a deal to buy the pubs with rooms company in a deal valued at more than £300m.