Owners of posh coffee shop Gail’s are preparing to hire advisers for a sale which would value the business well over the £200m price tag it sold for three years ago. 

Owners of posh coffee shop Gail’s are preparing to hire advisers for a sale which would value the business well over the £200m price tag it sold for three years ago. 

Bain Capital Credit and EBITDA Investments, a fund backed by restaurant mogul Henry McGovern, are together drawing up plans to bring in bankers before the end of the year. 

However, sources told Sky News’ Mark Kleinman “a formal sale process was unlikely to take place until next year”.

Gail’s has grown rapidly in recent years, and has often been associated with affluent customers. 

Its parent company Bread Holdings was bought three years ago by Bain Capital Credit and EBITDA Investments for £200m. 

Speaking at the time, McGovern, said: “We know a winner when we see one and Gail’s is such a business. I have followed it for years. 

“Throughout the Covid-19 pandemic, its team continued to operate at the highest standards and to serve the public without failing. “

He added: “We are very pleased to be co-investing with Mr Luke Johnson, who has been an investor in the company for over a decade, the management team led by its chief executive – Tom Molnar, and a leader in the world of private investments, Bain Capital Credit.”

At the time Gail only had 70 stores but it now has over 100 sites across the UK, including sites in London, Brighton and Oxford. 

The bakery was started by Yael Mejia in the early 1990s serving top chefs and food venues.  

City A.M. has contacted Bain Capital Credit, EBITDA Investments and Bread Holdings for a comment. 



Source link

Share.
Leave A Reply

© 2024 The News Times UK. Designed and Owned by The News Times UK.
Exit mobile version