Advertisement
UK markets open in 6 hours 13 minutes
  • NIKKEI 225

    37,861.76
    -100.04 (-0.26%)
     
  • HANG SENG

    16,251.84
    +2.87 (+0.02%)
     
  • CRUDE OIL

    82.69
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,383.10
    -5.30 (-0.22%)
     
  • DOW

    37,753.31
    -45.66 (-0.12%)
     
  • Bitcoin GBP

    49,158.29
    -2,104.94 (-4.11%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    15,683.37
    -181.88 (-1.15%)
     
  • UK FTSE All Share

    4,273.02
    +12.61 (+0.30%)
     

Gail’s owners plot to put posh coffee shop on the market

Owners of posh coffee shop Gail’s are preparing to hire advisers for a sale which would value the business well over the £200m price tag it sold for three years ago. 
Owners of posh coffee shop Gail’s are preparing to hire advisers for a sale which would value the business well over the £200m price tag it sold for three years ago.

Owners of posh coffee shop Gail’s are preparing to hire advisers for a sale which would value the business well over the £200m price tag it sold for three years ago.

Bain Capital Credit and EBITDA Investments, a fund backed by restaurant mogul Henry McGovern, are together drawing up plans to bring in bankers before the end of the year.

However, sources told Sky News’ Mark Kleinman “a formal sale process was unlikely to take place until next year”.

Gail’s has grown rapidly in recent years, and has often been associated with affluent customers.

Its parent company Bread Holdings was bought three years ago by Bain Capital Credit and EBITDA Investments for £200m.

ADVERTISEMENT

Speaking at the time, McGovern, said: “We know a winner when we see one and Gail’s is such a business. I have followed it for years.

“Throughout the Covid-19 pandemic, its team continued to operate at the highest standards and to serve the public without failing. “

He added: “We are very pleased to be co-investing with Mr Luke Johnson, who has been an investor in the company for over a decade, the management team led by its chief executive – Tom Molnar, and a leader in the world of private investments, Bain Capital Credit.”

At the time Gail only had 70 stores but it now has over 100 sites across the UK, including sites in London, Brighton and Oxford.

The bakery was started by Yael Mejia in the early 1990s serving top chefs and food venues.

City A.M. has contacted Bain Capital Credit, EBITDA Investments and Bread Holdings for a comment.