Mon, 29 Apr 2013 | BUSINESS SALE
Pret a Manger's owner, private equity firm Bridgepoint, is set to buy the brasserie restaurant chain Côte.
Business tycoon Richard Caring currently owns Côte, but the business is looking for a buyer after undergoing around six years of rapid growth. Indeed, the latest set of accounts show a profit increase in 2011 of over 200 per cent, making the business one of the UK's fastest growing restaurant companies.
Bridgepoint is thought to have entered a price of around £100 million for the deal. It is the frontrunner in the bidding after seeing off competition from a number of other potential buyers, including TA Associates and Investcorp.
The likely buyer already owns a number of consumer-facing businesses, including Fat Face and Hobbycraft. Caring, meanwhile, is focusing in on his higher-end businesses, such as London's The Ivy restaurant and Le Caprice.
The first branch of Côte was opened in Wimbledon back in 2007 after the business was founded by Andy Bassadone and Chris Benians, who launched Italian restaurant chain Strada. The firm has since grown to a chain of around 40 restaurants across the country with plans to open a further 12 sites this year.
____________________________________________________________________________
Related news:
Cote sale could be on the cards
View the latest food businesses for sale
Established approximately 5 years ago, the company is a highly regarded recruitment agency based in the East of England. The company serves the HGV logistics, construction, mechanical and electrical services (M&E), and criminal justice sectors, offer...
An opportunity exists to purchase the business and assets of a leading temporary recruitment company operating in Northern England and the South Coast of England. The company has an established trading history providing temporary staff to the logisti...
An opportunity to acquire the business and/or assets of an IT Training provider based in the South East.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.