North-east entrepreneur Mark Cavanagh has added another business to his fast-growing portfolio.
The 48-year-old’s oil and gas industry interests are backed up by a steadily expanding food and drink empire.
One of his latest investments, worth £350,000, has created eight new jobs at a new restaurant, the Clachan Grill, in Ballater.
It is the latest addition to his CranberryCo business, which also includes Aberdeen food and drink venues The Adelphi Kitchen, Angus & Ale, The Red Lion, Fusion Bar + Bistro and the No.1 Bar & Grill.
Mr Cavanagh grew up in Ballater and wanted to be part of the retail regeneration in the village after the devastation of Storm Frank in 2015.
He said: “ I was keen to offer some support in the wake of the flooding, which had a huge impact on businesses and local people, and the Clachan Grill is a perfect addition to the group.
“This is CranberryCo’s sixth unit and we have invested £350,000 to bring a former restaurant back to life and create jobs for the local area.”
The new eatery, in the former La Mangiatoia restaurant in Bridge Square, offers a menu of modern, Scottish cuisine with a strong focus on seasonal food and produce from local suppliers.
Head chef is David Mutter who has joined the Clachan Grill from Darroch Learg Hotel, where he was awarded 3 AA rosettes.
Mr Cavanagh said: “We have created a traditionally decorated dining room with a Scottish country theme and recruited a head chef who has a strong background in cooking at a very high standard.
“David Mutter has worked with local suppliers to create a menu which really showcases Deeside produce.
“We have been welcomed and supported by the local community and we look forward to the Clachan Grill becoming firmly established in the heart of Ballater.”
Last week, Mr Cavanagh snapped up an oil and gas consultancy founded more than 30 years ago to carry out support services on the Forties oil field.
His acquisition of Berkshire-based Oil Plus, for an undisclosed fee from a division of global industrial giant Smiths Group, was the latest step in an energy industry career spanning more than 25 years.
Mr Cavanagh founded energy consultancy XPD8 in Aberdeen in 2003 and pocketed an undisclosed sum when he and private-equity backer Maven Capital Partners sold the business to Smiths Group in 2015.
He is also currently the sole shareholder and managing director at engineering consultancy Crandale Consultants, ,which employs about 35 people in Aberdeen.