Côte’s owners look to inject new funding

Côte’s private equity owner is reportedly poised to inject new capital into the business following a two-month review of potential buyers.

According to Sky News, Partners Group, the Swiss-based private equity firm, is considering a multimillion-pound capital injection into the French casual dining chain to fund a turnaround strategy that could include closing underperforming locations.

The decision by Partners Group represents a shift from its earlier consideration of a potential sale of the business.

Partners Group had appointed Interpath Advisory in July to explore investment opportunities, a move which, according to Sky News, had included the possibility of an auction of the business.

The appointment of advisers came after Côte hired former Sofology managing director Emma Dinnis as its new chief executive officer in March to lead its next phase of growth.

At the time, the business said Dinnis would be tasked with building on its “strong momentum” as it looked to expand with larger sites.

Côte was founded in 2007 with its first site in Wimbledon and now operates approximately 70 UK restaurants, with reports suggesting that 60 of these locations are profitable.

The reported turnaround comes amid a difficult time for the industry as restaurants face higher costs and the fallout of increases to minimum wage and employers’ National Insurance Contributions in April.

Partners Group and Interpath have been approached for comment.

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