Restaurant group Côte is embarking on a fresh wave of store expansion following its sale to new private equity investors last year, with some reports claiming the chain changed hands for as much as £250m.
Either way, former owner CBPE Capital was delighted to realise a 2.9 x return on its original investment, while new parent BC Partners was over the moon to grab control of a business that has achieved “exceptional growth” in the last two years.
It is an endorsement of CEO Alex Scrimgeour’s credentials that the new owners specifically cited the management team’s uncompromising dedication to quality and proven track record of growth as one of the primary reasons they backed it.
Cote was established on the principle of serving simple, freshly-prepared French food at value for money prices, an ethos that Alex has ensured remains today.
In the past three years alone it has opened 20 sites and grown EBITDA by 60%. At the start of this year, Alex masterminded the acquisition of Jackson & Rye and Limeyard, with plans to roll-out both brands to other sites.
“Both cater to a new type of clientele for us and we see an opportunity to apply Côte’s proven front- and back-of-house expertise to develop and expand both brands further,” he explains.
Address: Woolverstone House, 61 Berners St, London, W1T 3NJ
Tel: 0203 206 7940
Focus: French brasserie
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