Jamie Oliver Group fishes for investors to fund expansion

Jamie Oliver

Jamie Oliver Group, the holding company of the celebrity chef, is looking for private equity investment for the company’s restaurant businesses.

The group’s chains include Barbecoa, Fifteen, Jamie’s Italian, Recipease, Union Jacks, and Diner.

The funding is not expected to affect Jamie Oliver’s publishing operations.

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FTSE 100 investment group 3i is reported to have been approached along with several other potential financiers by Royal Bank of Canada, which has been appointed to oversee the sale.

If successful, the money raised is expected to be pumped into expansion of Jamie Oliver’s restaurants in the UK and internationally.

Jamie’s Italian’s latest accounts show sales increased by 10% to £101.8 million in the year to January 2014, although increased competition and heavy discounting by high street brands was blamed for profits falling by 22% to £5.6 million.

Barbecoa sales increased by 7% to £9.5 million with profits rising 4% to £1.2 million over the same period.

Jamie Oliver Group has not commented on the latest funding news, but has previously stated that it regularly reviews funding policy and requirements in order to position the group to take best advantage of market opportunities.


Tags : 3iBarbecoaFifteeninvestmentJamie OliverJamie’s Italian
Rob Corder

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