Despite the downturn in consumer spending, eating out is still extremely popular, which could lead to a boom in M&A activity within the restaurant sector next year, experts claim.
Business advisory firm BDO said that the restaurant industry has been one of the consumer sectors that is still seeing growth. David Campbell, head of BDO’s restaurant and bars division, said, “Eating out has been relatively unaffected in the consumer downturn and we see casual dining continuing to grow.”
The analysts predict that several of the major high street chain restaurants, which have been among the few success stories of recent years, could be sold to keen buyers in 2012. Private equity investors with money burning a hole in their pockets will be looking to take on these popular brands in anticipation of an upswing in consumer spending in 2013, which some predict will occur as wages inflate.
Mr Campbell said there are “a number of profitable restaurant chains approaching the point where we would expect an ownership change.” Buyers will be keeping their ears to the ground for restaurant chains of all sizes hitting the market, as well as individual pubs that could be turned into profitable restaurants and more casual eateries.
An example of a recent deal within the industry is the sale of eight Chez Gerard high street restaurants to the Brasserie Blanc brand at the end of November. Buyers are now being sought for the other restaurant brands operated by parent company Paramount Restaurants.
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