Tue, 02 Jun 2015 | BUSINESS SALE
Jamie Oliver is in talks regarding a business sale for his various restaurants, it has emerged.
The celebrity chef is reported to be in early-stage talks regarding the sale of a stake in his restaurant business, which would include chains Jamie's Italian, Barbecoa and Jamie Oliver's Diner, to a state-backed private equity group.
3i is the equity firm in question and the deal is suggested to be valued in the region of £200 million. Royal Bank of Canada has been appointed by Mr Oliver to handle discussions and negotiations with 3i and other potential buyers, according to Sky News.
Mr Oliver is reviewing his empire as a whole and has also hired investment bank Raine to look into the disposal of his publishing business.
The plan appears to be for Mr Oliver to raise finance for funding the opening of new restaurants under his name.
Whoever purchases the group is set to take on an established and expansive restaurant business. Jamie's Italian first launched in Oxford in 2008 and now boasts around 40 UK sites and 15 overseas locations.
Sales of more than £100 million a year are generated by the firm, which also has plans for expansion in new geographical regions including Indonesia, Hong Kong and Australia.
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