The week-end has seen some announcements of interest across the sector.
Conven considering sale of Gondola
Following the recent sale of the Byron burger chain for £100 million, Cinven is reported by The Sunday Times to be looking to exit from its investment in Gondola holdings, operator of the Pizza Express (413 outlets), Zizzi (123) and Ask Italian (216) restaurants.
Cinven paid £1.14 billion for Gondola back in 2006, and achieved sales of £592 million and earnings of £108 million in 2012-13.
Eclectic
The bar group with locations that include Fez and Po No Na has announced that it plans to float on AIM (the Alternative Investment Market) in the immediate future, in order to raise £10 million.
The money will be used to pay off £7.3 million in loans and to invest in new sites and acquisitions.
Eclectic increased revenues by 7% in the year to june 2013 to £21.2 million.
City Pub Company
Has announced that it intends to launch a £10 million fund raising that will fuel acquisitions in 2013.
City Pub Co currently has 12 pubs in London and the South east, and aims to increase this to 20.