Reports tip leading restaurant group for IPO

Angelica

The restaurant group founded by Sir Terence Conran is lining up a public listing in a move that will enable investors to buy shares in the owner of Le Pont de la Tour, Orrery and Quaglino’s.

According to Sky News, private equity group LDC, which bought a controlling stake in D&D Restaurants in 2013, is readying investment bank Zeus Capital to oversee a bumper flotation.

Sources said yesterday that the timing and valuation of the float have yet to be finalised.

D&D operates a number of top London restaurants, including Bluebird, Coq d’Argent and Skylon .

The company’s name refers to the initials of Des Gunewardena, the chief executive, and David Loewi, managing director, who led the buyout of Conran Restaurants in 2006

D&D’s original buyout took place in 2006, but two years ago, LDCbought stakes previously held by Conran Holdings and private equity investors Caird Capital.

D&D London today owns and operates 34 restaurants globally with annual revenues of around £75m.

LDC, Lloyds and Zeus all declined to comment on the report, Sky News said.

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