Mon, 08 Oct 2012 | BUSINESS SALE
The Byron burger chain is understood to be up for sale, with a number of investment banks thought to be interested.
Reports from the Sunday Telegraph suggested that Bank of America, Merril Lynch and Barclays are among the companies vying for a prime cut of the popular chain.
A full exit for private equity house owners Cinven is thought to be unlikely due to the current consumer climate at the moment. However, a float and a full or partial sale have been discussed.
Gondola Holdings, the company behind Byron, as well as other popular chains Pizza Express and Zizzi, originally considered a sale of the entire group but has now settled for a sale of the burger chain for a price upwards of £100 million.
The paper's sources confirmed that Gondola has been discussing future options for the chain with a number of possible advisers after the company's strong growth saw it become Gondola's engine for growth. Indeed, Byron made a profit of £1.09 million on sales of £17.5 million in the year to June 2011 and has expanded from one restaurant in 2007, to 25 in London alone and a further two planned for Oxford and Kent.
The business operates in the UK with an international presence and specialises in providing comprehensive recruitment solutions to customers in the technical sector.
The company has traded for 16 years, based in the Northwest and operating nationally providing temporary staff to large corporate clients.
The company is well-established and operates from a third party owned quarry in Lincolnshire. The business quarries, manufactures and supplies a range of aggregate products, gabion stone and provides associated products and services throughout the Un...
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