Nando’s parent circles Clapham House
2 August, 2010
Clapham House, the company behind the Gourmet Burger Kitchen and Real Greek brands, has received a buyout offer.
The company’s shares have risen sharply since rumours of a potential buyout began last week. In a statement, the company said: “The board of Clapham House… confirms that it has received an approach which may or may not lead to an offer being made for the company.” Further announcements would be made in due course, it added.
Clapham House did not disclose the identity of the suitor, but the Guardian is among those to have identified it as Capricorn Ventures, which has already built up a quarter share of the company since first investing in it in 2007. Capricorn now owns Nando’s, and the Guardian quotes analyst Mark Brumby as suggesting that that putting that brand together with Gourmet Burger Kitchen would be “a pretty solid proposition.”
Peach Report recently noted that Clapham House was planning to grow the Gourmet Burger Kitchen concept. Its most recent financial year, to the end of March 2010, saw the company turn in sales of £44.5m, up by 4.2% year-on-year, and profits of £1.5m.
If completed, the deal would continue a wave of private equity acquisition activity in the restaurant and bar sector, including Carlson’s takeover of TGI Friday's. Several private equity firms were also linked this week with a takeover of Luminar, the country’s biggest nightclub group.