Sky News this morning is reporting that restaurant group D&D London is set to be acquired by Montecito Equity Partners, a London-based private equity firm for a price in the region of £100 million.
In such a deal landmark London restaurants including Quaglino’s, Bluebird in Chelsea and Skylon South Bank would come under new ownership. Sky reports their sources say talks between D&D and Montecito are ongoing and some way from conclusion.
D&D’s portfolio of circa 40 UK restaurants having been largely closed throughout the pandemic, so the potential move by Montecito would indicate some confidence in hospitality as a viable recovery investment.
D&D’s current financial position post pandemic is unclear as business accounts for the period to the end of September 2020 due to have been filed last week have not been.
Any move for D&D also places a positive outlook from investors of a return to office workers in London, and other cities.
Sky ended their report with all parties potentially involved declining to comment or being unavailable. But does state: “Interpath Advisory, the former restructuring unit of KPMG UK, has been advising on the sale of D&D as it widens its offering into the provision of general corporate finance advice, according to people close to the process.”
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Hospitality & Catering News: £100 million acquisition of D&D London reported in play. – 2 October 2021 – £100 million acquisition of D&D London reported in play.
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