Gail’s owners cook up £200m+ sale
Gail’s could be sold in a deal worth in excess of £200m as the bakery chain’s owners prepare to hire advisers.
Bain Capital and EBITDA Investments, a fund backed by restaurant investor Henry McGovern, are looking to appoint bankers to handle the chain’s sale, Sky News reports.
Their appointment could come before the end of the year.
The parent company of Gail’s, Bread Holdings, last changed hands in September 2021 for over £200m. At the time, the chain operated around 70 bakeries nationwide, with that number now reaching in excess of 100. Whilst mostly operating in London, Gail’s has expanded to other locations across the UK such as Oxford and Brighton.
Sources told Sky News that a formal sale process was unlikely to take place until next year.