Home Business NewsBusinessBusiness Growth News D&D London embarks on an exciting new chapter with acquisition by Calveton and Breal Capital

D&D London embarks on an exciting new chapter with acquisition by Calveton and Breal Capital

by LLB Reporter
17th Oct 23 5:57 am

D&D London, previously Sir Terence Conran’s ‘Conran Restaurants’, the renowned restaurant group, known for its exceptional portfolio of iconic restaurants and bars across major cities in the UK, Europe and North America, along with South Place Hotel in the City of London, is thrilled to announce its imminent acquisition by Calveton and Breal Capital.

This marks a significant milestone in the company’s history and opening the door to enhanced growth and exciting opportunities for its diverse portfolio.

David Loewi, who is Chairman of the UK Restaurant Association and co-founded the company, will remain as CEO and shareholder. The business has a collection of renowned brands including Quaglino’s, Madison, Bluebird Chelsea, German Gymnasium, 14 Hills, Coq d’Argent, 20 Stories, Orelle, Queensyard New York, Alcazar Paris, amongst others. D&D has won numerous awards including AA Rosettes and a Michelin Star at Angler.

Calveton have extensive experience in the consumer industry, with ventures such as Byron Burgers, Barista Coffee, Adelie Foods, Café Nero, Pizza Express, KFC and Skygourmet. Calveton impacts the business by building high-performance “customer-first” culture, strengthening the core proposition and facilitating strategic international expansion.

Breal recently acquired Vinoteca and Black Sheep Brewery and has a reputation for bringing operational excellence to businesses.

The deal, which is expected to sign this week, will see both Calveton and Breal invest proprietary capital “patient” money, unlike institutionally backed private equity funds with exit time horizons.

Simon Wilkinson will join the Board as Chief Advancement Officer, bringing 40 years of hospitality experience within 5 Star hotels, fine dining and branded food concepts.

D&D has been consistently highly profitable, however, like many in the hospitality sector, has met challenges following COVID lockdowns, cost of goods inflation, shortage of staff due to Brexit, and the huge impact of the ongoing industrial action.

The Calveton/Breal investment will bring about a c£40m balance sheet recapitalisation and this restructuring will give the Group a clear runway for continued success and further growth.

Support to D&D will continue from Beechbrook Capital and existing senior lenders HSBC and Santander.

David Loewi expressed his enthusiasm, saying, “We are absolutely delighted to welcome Calveton and Breal Capital into the D&D London family. This partnership will provide us with the financial backing and strategic support to accelerate growth both in the UK and internationally.”

Sandeep Vyas, founder of Calveton, echoed this sentiment, stating, “D&D London’s reputation for quality food and creating memorable experiences is unparalleled. We see immense potential in this partnership and are excited about the business growth ambitions, which we will support wholly as partners. Our shared vision is to preserve the rich heritage and identities of these remarkable restaurants.”

Brent Osborne, founder of Breal, shared in the excitement and potential of this partnership, “We have always been selective in the opportunities we pursue and recognise that D&D London is a true gem in the world of hospitality.

“We are pleased to be part of this exciting journey and look forward to working closely with David Loewi and the talented team at D&D London to build on their impressive legacy. This acquisition represents a great platform upon which the various restaurants and bars within the group can be taken forward in partnership, delivering long-term sustainable growth.”

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