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Press Release Archives
Horizons: Nando’s bid evidence of market consolidation
Following the news that Nando’s has made a bid approach for Clapham House, Peter Backman of foodservice consultancy Horizons has issued the following comment:
“The fact that Nando’s owner Capricorn Ventures International has made a bid approach for Clapham House, owners of the Gourmet Burger Kitchen and the Real Greek brands, is further evidence of the consolidation we are likely to continue seeing in the eating out sector as we move slowly out of the recession.
“This week Carlson, the US hospitality group, has bought out its private equity partner in TGI Friday’s UK and we have already seen Tragus expressing interest in Chez Gerard operator Paramount, the owners of La Tasca launching a formal auction process for the Spanish tapas chain and Ego, the northwest chain of Mediterranean restaurants, looking for a purchaser.
“These takeover attempts focussing on strong brands, yet brands that are not yet mature in terms of geographic saturation, become more likely as the eating out market begins to improve. Bidders are keen to strike before prices recover fully while banks are beginning to finance the right deals again.”
Please do call either Linda Pettit on 07973 789853 or Peter Backman on 020 8349 0162/07785 242809 for any further comment.