Gail's bakery CEO dismisses sale rumours as 'inaccurate'

26 March 2024 by
Gail's bakery CEO dismisses sale rumours as 'inaccurate'

The chief executive of Gail's has rowed back on speculation the bakery and coffee chain could be put up for sale this year.

Sky News reported on Sunday that Bain Capital Credit and EBITDA Investments, which took a major stake in Gail's in 2021, were drawing up plans to hire advisers, potentially before the end of 2024.

However, The Caterer understands Bain Capital has no plans to sell Gail's this year.

Tom Molnar, chief executive and co-founder of Gail's, said: "The story in the news is inaccurate. There is no sale process.

"We are spending our time on baking, serving coffee and playing our part in changing food choices for the better."

Gail's was valued at £200m when it last changed hands nearly three years ago, but could now be worth substantially more.

The chain had around 73 cafes in 2021 but has since expanded to more than 120 sites. It is largely based in London but also has regional venues in locations including in Oxfordshire, Wilmslow, and Brighton.

Marta Pogroszewska, managing director at Gail's, said last year the chain's research had shown there were 300 – 500 locations it could successfully open across the UK.

Speaking in September, she said: "We have quite a good run in the UK ahead of us."

Gail's was founded by Yael (Gail) Mejia as a bakery in the 1990s to supply chefs and restaurants. Molnar joined in 2003 and its first high-street site opened in Hampstead in 2005.

The business is also part-owned by hospitality entrepreneur Luke Johnson, who initially partnered with Molnar in 2011.

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