Ownership of event catering specialist Inn or Out has changed hands for the second time this year with boutique foodservice firm Bartlett Mitchell announcing its acquisition for an undisclosed sum.
Inn or Out, previously owned and managed by Lena Björck, was bought by Aspire Hospitality in March.
However it was announced today that Bartlett Mitchell has snapped it up in a deal that was structured through the formation of a new company, Bartlett Mitchell Services Ltd, taking the combined turnover to more than £30m with a team of around 700 employees.
Commenting on the thinking behind the acquisition, Wendy Bartlett (pictured right), chief executive of the new holding company, said it will enable Bartlett Mitchell to enter new markets while giving Inn or Out Events access to solid systems and procedures.
"We have the financial stability to cope with the peaks and troughs of events business and our highly experienced central functions such as finance, HR, marketing and purchasing will help take Inn or Out Events to the next level," she explained.
"Bartlett Mitchell will also benefit from additional commercial expertise and the input of a dynamic and creative events team that will help develop a unique approach to directors dining and hospitality."
The deal has also meant that Bartlett Mitchell has picked up a new London office and central production kitchens that will also be used as a base for the caterer's new Chefs Academy for training across all divisions.
The two businesses will run under parent company Bartlett Mitchell Services Ltd. Bartlett will continue to head up Bartlett Mitchell and current deputy managing director, Francois Gautreaux (pictured left), will assume the role of managing director of Bartlett Mitchell Services Ltd, ensuring the support services and best practice is shared across both companies.
Sam Lee will remain managing director of the Inn Or Out Events business, and Lena Björck, the founder of Inn or Out, will continue as creative director.
"This acquisition is a joining of similar cultures to provide all clients with more innovation and creativity, and to enhance quality," added Bartlett.
"It will be very much business as usual for the clients of both companies and demonstrates that we are developing our business for long term growth.
"This deal gives us more firepower to compete effectively with larger caterers and behind the scenes, both companies and our teams, will be strengthened by this deal. We will have the same people but will be building their skills, knowledge, expertise and resources, and providing more opportunities for all team members in the process."