Lion to swallow pub chain Loungers ‎in £140m takeover

The private equity firm whose investments include Wagamama and ‎Jimmy Choo (LSE: CHOO.L - news) is in talks to buy Loungers, the bar and restaurant chain, for about £140m.

Sky News understands that Lion Capital ‎is in exclusive negotiations to acquire the company, which has more than 75 sites across the country.

A deal could be wrapped up before Christmas, according to insiders.

Loungers was established in Bristol in 2002, with the founders - Alex Reilley and Jake Bishop - owning about 50% of the business.

A takeover by Lion would bring Loungers into the portfolio of one of the most prolific acquirers of consumer-facing companies in the UK.

Lion owns All Saints, the fashion retailer, and has previously counted brands such as GHD, the hair-styling products, among its investments.

The sale is being handled by GCA Altium, the investment bank.

Lion declined to comment.