A Leeds-based sports bar, Toast, has been acquired by its long-time general manager, and Leeds-local Jacob Georgallis as part of plans to expand the premises and grow the business’s presence across the North of England.
Jacob started working as a glass collector at the bar located at West Point, Leeds, back in 2015 when he was just 18 years old. The now 29-year-old has been with the business through a change of ownership, as well as the decision to rebrand from a cosmopolitan bar to a sports bar when the current owners noticed a lack of spaces showing major sporting events in the city’s financial district.
The rebrand was overseen by Jacob and the bar’s owners in 2017.
As Toast’s popularity grew, the existing space could no longer meet customer demand. Jacob began to work closely with the owners on ideas for extending the premises. However, increasing the space would require more than cosmetic changes and they decided to look at a longer-term strategic vision and investment.
Jacob began discussions with the owners about a potential acquisition as far back as 2019. Although the COVID-19 pandemic temporarily put plans on hold, it also saw Jacob play a key role in innovating the bar’s operations through app-based ordering and table service. By early 2025, Jacob revived the conversation and secured a £350,000 term lending facility from Lloyds to purchase the bar via a share transaction.
He is now focused on increasing the venue’s footage while preserving its identity. Looking further ahead, the new owner is hoping to open similar bars in a number of cities across the North of England, such as Newcastle, Liverpool and Manchester.
Jacob Georgallis, director of Toast Bar, said: “It’s a real privilege to be taking over the helm of Toast, a business I’ve invested much time and love into over the last decade. A year into my tenure at the bar it was taken over by the current owners, James and Gilda, both of whom I’d had the fortune of knowing since I was a child. The family-like atmosphere and implicit trust in me and my vision for the space is the reason I’ve stayed with the business so long.
“We started the process of the sale early this year and it has been smooth sailing since. That is in no small part down to my relationship manager at Lloyds, Craig Baldwin, and his team – who’ve ensured each step of the purchase has been simple and hassle-free. I look forward to working with Lloyds over the next few years to expand Toast’s premises and investigate new opportunities for locations across the North of England.”
Craig Baldwin, relationship manager at Lloyds, said: “It’s clear that Toast’s success to date has been heavily influenced by Jacob and the strong relationship he has with its team. We’re pleased to have been able to support the next steps of his vision for the bar, and I look forward to working closely with him in the future.”
