Mon, 21 May 2012 | DIVISION SALE
The owner of the Quaglino’s restaurant D&D has placed 30 of its restaurants on the market to generate cash for expansion in London.
D&D, the restaurant group formerly known as Conran Restaurants, owns upmarket London eateries such as Le Pont de la Tour, Coq d’Argent, Quaglino’s, and restaurants in New York, Copenhagen, Paris and Tokyo. The 30-restaurant portfolio is expected to sell for around £70 million, the Financial Times reported.
It is thought that due to the upcoming opening of D&D’s first hotel – an 80-room property situated in the City – and two restaurants in Bishopsgate and Leeds this year, the deal could actually be worth up to £100 million.
D&D is being advised on the sale by Rothschild. Consent to the sale process would have to be given by Conran Holdings, which holds 51 per cent of the group, private equity vehicle Caird Capital and by management.
Conran Restaurants was founded in 1991 and led by chairman Sir Terence Conran and CEO Des Gunewardena. Since its buy-out in 2006, the business, renamed D&D, opened a further eight eateries including Botanica and Iconic in Tokyo.
It is believed that the management expect to be kept on at the business post-sale and plan to double its restaurants in London and to open new restaurants in India, Malaysia, Thailand, China and the Middle East.
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
25
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
24
|
Apr
|
Malaysia's IJM buys a stake in London construction firm JRL | BUSINESS NEWS
IJM Corporation Berhad has bought a 50% stake in Borehamwood...
24
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
31
|
Dec
|
600 Group in asset sale talks | DIVISION SALE
Leeds-based engineering firm 600 Group is seeking an asset s...
25
|
Apr
|
D&D Wines International in administration | ADMINISTRATION
Cheshire-based D&D Wines International has entered administr...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.