Restaurant group set for expansion following £60m takeover

16th October 2023 | Jack Oliver

Restaurant group D&D London is set for further expansion following an imminent £60m sale to Calveton and Breal Capital.

A deal is expected to be completed this week, with the group’s co-founder David Loewi set to remain as chief executive under the terms of the takeover.

Previously Conran Restaurants, D&D London operates restaurant such as Bluebird Chelsea and Coq D’Argent as well as the South Place hotel in London.

Despite the 40 site-strong group closing seven underperforming sites over the last year, it is targeting new openings in Manchester, Leeds, Paris, and New York.

D&D London said it had been “consistently highly profitable” but added that recent challenges such as pandemic lockdowns and rail strikes had caused challenges for the business.

The group said the deal would deliver a balance sheet recapitalisation of around £40m, allowing it to continue growing.

Calveton purchased the Byron Burger chain in 2020, whilst Breal Capital has made a number of acquisitions in recent months including wine bar Vinoteca and breweries Brick Brewery, Brew by Numbers, and Black Sheep Brewery.

Brent Osborne, founder of Breal, said the acquisition represents a great platform upon which the group’s restaurants and bars can be taken forward, delivering long-term sustainable growth.

In June, D&D hired advisers to help it seek further funding after private equity firm LDC exited the business after 10 years as a long-term investor.


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