Buyout (LBO, MBO, MBI) • Restaurants

Gresham Acquires Town Centre Restaurants

On December 18, 2006, private equity firm Gresham acquired restaurant Town Centre Restaurants for 48M GBP

Acquisition Context
  • This is Gresham’s 2nd transaction in the Restaurants sector.
  • This is Gresham’s largest (disclosed) transaction.
  • This is Gresham’s 20th transaction in the United Kingdom.

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M&A Deal Summary

Date December 18, 2006
Target Town Centre Restaurants
Sector Restaurants
Buyer(s) Gresham
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 48M GBP

Target Company

Town Centre Restaurants

Middlesex, United Kingdom
Town Centre Restaurants is a privately owned restaurant groups comprised of three main brand Cafe Giardino, Auberge and Azzurro. Town Centre Restaurants was founded in 1992 and is based in Middlesex, United Kingdom.
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Buyer Overview 1

Buyer

Gresham

London, United Kingdom

Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Gresham LLP is a private equity firm focused on management buyouts across a broad range of industries in the UK. Gresham considers transactions up to GBP100 million with an emphasis on opportunities in business services, support services, consumer products and services, financial services, healthcare/pharmaceuticals, industrial products and energy/environmental. Gresham is based in London with additional offices in Birmingham and Manchester.


Deal Context for Buyer #
Overall 20 of 32
Sector: Restaurants 2 of 3
Type: Buyout (LBO, MBO, MBI) 19 of 26
Country: United Kingdom 20 of 32
Year: 2006 4 of 4
Size (of disclosed) 1 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-27 Individual Restaurant Co.

Manchester, United Kingdom

Individual Restaurant Co. Ltd. is owns and operates 34 restaurants in major UK cities, towns and suburbs.

Sell £41M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-10 Esterform Packaging

Tenbury Wells, United Kingdom

Esterform is a leading supplier of PET preforms and bottles to the UK beverage industry. It manufactures a range of plastic bottles for the soft drinks, alcoholic and speciality markets and has a particularly strong presence in the high growth markets of water, juice and smoothies. The business is focused on new product development and is driving the green agenda with new environmentally friendly material developments. Esterform is also well progressed in the development and commercialisation of a plastic beer keg as a replacement to the traditional steel keg, this presents a very strong growth opportunity in its own right.

Buy £30M