Loch Fyne Seafood & Grill could find itself under new ownership in the not-too-distant future after it was reported today that parent company Greene King is taking steps to offload the chain.
The pub group paid £68m to acquire Loch Fyne nine years ago, but according to The Times it is “exploring” plans to sell the business.
Greene King is said to be in early discussions about a sale after receiving opportunistic bid approaches for the chain, which comprises 38 outlets.
Analysts have valued the business at as much as £100m.
It is thought that Loch Fyne has become surplus to requirements following Greene King’s £774m takeover of Spirit last year, which created a leader in the pub space.
At the end of last year, Greene King revealed that it plans to halve the number of brands it operates. It currently manges around 20 brands and formats, including Hungry Horse, Old English Inns, Farmhouse Inns and Chef & Brewer, but anticipates slashing this by half in the future.
Previously Greene King had indicated that Loch Fyne was one of the brands it would continue to develop.
Greene King has not commented on the latest reports.